AUTOREFRESH 
Fibo support helps contain Cable drop
By Jamie Coleman || June 22, 2009 at 16:44 GMT
|| 7 comments || Add comment
GBP/USD’s weakness has been arrested at the 1.6332 level, theb 61.8% retracement of the 1.6187/1.6565. Spooky, isn’t it? Kudos to Signore Fibonacci…
Kudos to the idiots that believed Signore Fibonacci was right, they mean I have to now use Fibs and in turn become one of those idiots. And so the cycle goes on.
But ya sound much more sophisticated buying against a Fibo rather than trying to catch a falling knife…
Amen.
Once again a self-fulfilling prophesy is realised with the 1.618 Fib Level holding. This also coincides with the daily Support 1, pivot level. Should these levels not be broken prior to the end of US session, then tomorrow may present an excellent buying opportunity in line with the daily trend.
… or perhaps the market hangs on Jamie’s every word?! Try mentioning an entirely fictional (i.e. more fictional than the ones people still believe in) level and watch for the bounce.
^^ The above text is in ‘toungue in cheek’ font
come oooon i want to see it above 160 in gbpjpy!! yen needs to weaken somehow!
Ben, I think you will find it’s quite the contrary