$EURGBP Is Bearish & Weekly Levels

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SUMMARY:

The overall trend of EUR/GBP  is bearish, In its hourly chart, prices are consolidating with strong positive bias. 30 & 200 DMA are also providing support to the prices, supporting the further uptrend. If EUR/GBP crosses the  important resistace level of 0.7390 and sustains above it then we can expect it to show north ward movement in the prices. If it breaks the level of 0.7390 & sustains above it we can expect it to come up to the levels of 0.7470/0.7530  in next few days.

RECOMMENDATION : BUY  

TARGET 0.7530

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EUR/GBP ( HOURLY )

CHARTS

INDICATORS:

RSI is sustaining in buying territory, supporting the upcoming bullish trend in the pair.
MACD is also sustaining above the zero line, indicating the up trend in the market.

STRATEGY: 

EUR/GBP is bouncing back from lower levels. One can go for buy on dips  strategy for this pair for intra day to mid term positions.


WEEKLY LEVELS :

	S2	S1	R1	R2
EUR/USD	1.0590	1.0784	1.1100	1.1222
GBP/USD	1.4660	1.4791	1.4999	1.5076
USD/JPY	117.66	118.32	120.01	121.04
USD/CHF	0.9304	0.9412	0.9693	0.9866
AUD/USD	0.7410	0.7520	0.7750	0.7870
EUR/GBP	0.7159	0.7259	0.7420	0.7481
USD/CAD	1.2206	1.2345	1.2704	1.2924
NZD/USD	0.7300	0.7456	0.7702	0.7792

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