stoped out at just above 0.790 after moving my s/l.
my bad.
looks like a great run for those who gave it some time/room.
my bad.
looks like a great run for those who gave it some time/room.
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DislikedI see pound being quite resilient in todays market versus the euro and the aussie. The trend down in euro pound might just pick up speed.Ignored
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When the price bounced at .7750 it looked like a retest of .8000 before continuing the major down trend. in fact the price only made it to .7960 before retracing to 61.8%. The rejection there indicates to me that we are having another go at .8000 before anywhere else.
Interestingly the above scenario forms an "Adam and Eve bottom" but I am thinking .8000 might prove too strong for it to play out.
Enter the possibility of a few weeks or months of consolidation like it did in this area in 2008. It might even wait for...Ignored
DislikedIMAO - we are in downtrend, no doubt; fundamentally the pair looks bearish too, if ECB starts to buy spanish and italian bonds, we could go more to the south, on the other hand buying english gilts from BoE is not on the menu, last week there is been a nice hedging activity on british pound (COT report)..in the short term closing below the 0,79 level would be the bearish signal, daily chart with TA attached.Ignored