Fxwirepro: Eur/gbp rejected at Highs, Retest of 0.7313 Likely

  • EUR/GBP was rejected at highs near 0.7385 today, bulls struggling to take the pair higher.
  • Doji formed on Tuesday’s candle and hammer in today’s session till now suggest retest of 0.7313 levels, 0.7313 is 23.6% Fib retrace of 0.6981-0.7416 rise.
  • Bias however still with the bulls and techs suggests a run toward 0.7500 is due, with minor pullbacks on charts.
  • Buying dips remains favored, but for a trading purpose it is good to sell rallies around 0.74 levels, SL: 0.7450, TP: 0.7320.

Resistance Levels:R1: 0.7408 (Daily High Dec 29)R2: 0.7417 (Daily High Dec 22)R3: 0.7424 (Daily High Oct 15)Support Levels:S1: 0.7344 (10 DMA)S2: 0.7328 (Daily Tenkan)S3: 0.7318 (Daily Low Dec 24)

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