Trade Idea: EUR/GBP – Exit long entered at 0.8250

By | June 23, 2010

Current selloff on sterling’s broad-based strength has dampened our bullishness and suggests the wave v is still in progress, break of support at 0.8210 would extend recent wave 3 to 0.8150/60, however, loss of downward momentum should prevent sharp fall below 0.8100 and risk remains for a strong rebound later.

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