EUR/GBP bounce running out of steam…..

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Just for you ‘fibonacci’ boys out there, that neat little bump up in the EUR/GBP following the poor UK retails sales, floundered at the 50% retracement of the  22/Oct fall to  8 Nov base at 0.8063/64.

Offers sit ahead at 0.8070/75 ( Oct 31 high 0.8075) and there’s also further tech res at the 61.8% coming in around 0.8087 behind the 200 day MA at 0.8082. Bids are now moving up into the 0.8040/50 area after the buy stops were taken up earlier through 0.8050

EUR/GBP’s @ 0.8054


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Pete Jackson

One Comment

  1. well, .806 is the top of the box in end ’08, is the previous low in ’10 and like a cheap btard I put my tp at .68(guess I can donate 10 pips and go home, one has to pay for being cheap)…


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