May 4th, 2010 18:00:45 GMT

Is that a head on those shoulders

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I hate to sell something that has already fallen 5 cents in the last two months, but EUR/GBP looks like it may have triggered a head and shoulders pattern on the dailies. Measured move objective? 0.8000.

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May 4th, 2010 16:41:45 GMT

EUR/GBP continues slide; attacking key support

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EUR/GBP sits on key support at the 0.8593 level. A clean break targets a move down to 0.8520 in the days ahead. Cable is up at 1.5168, off 1.5092 lows….EUR/USD is consolidating below the 1.3050 level.

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May 4th, 2010 15:48:06 GMT

Cable bouncing after the washout

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Cable is in recovery mode after slipping as low as 1.5090 on stop-loss and barrier hunting. We’ve overcome the 1.5125 area that should have put up a fight on rebounds and now trade at 1.5135. Traders are reluctant to hold … Continue reading

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May 4th, 2010 04:00:15 GMT

Quick look at the order book

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USD/JPY: barrier protection ahead of 95.00 EUR/USD: stops below 1.3150; stops above 1.3225 EUR/GBP: still stuck between buy orders at .8600 and sell orders at .8720- stops both sides on breaks EUR/CHF: SNB still supporting above 1.4300 AUD/USD: heavy interest … Continue reading

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May 3rd, 2010 14:28:37 GMT

EUR/GBP pressured; poll weighs

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EUR/GBP is trading at session lows, with the pound outperforming other currencies in the wake of the latest opinion poll ahead of Thursday’s election. EUR/USD is under pressure from both the underwhelming market reaction to the Greek bailout as well … Continue reading

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