Had a little slip down to 0.8504.
We cracked through the 100 H4ma & 200wma at 0.8517.
The 100 dma has kept a lid on the highs in the 0.8540/50 area and the tech support is still pretty good below.
Support is seen at 0.8502, the 55 dma at 0.8496, the 200 H4 ma at 0.8493 then strong support at 0.8485/88.
I still like a long from 0.8500 but my stop will be tight around 0.8480 as my feeling is that the UK will continue to overtake the EU in a recovery thus there will be downward pressure on the pair. The highs are getting lower so it’s all starting to point down. This may be one last chance to get a bounce off some good tech support.
