Flows and Orders/GBP crosses/Technical Analysis

EUR/GBP: Fibo support holding for now

The 38.2% retracement of the strong 5-wave upmove from .7750 to .8160 comes in at .8005 and this level has already held firm on the first test 4 days ago. There will of course be  plenty of stops just below .8000 and if the cable stops above 1.6180 go off, then that will probably trigger the stops in the cross as well.

  1. Sean,

    you had a good prospect on the cable, remember your words “Heavy stops above 16180 in cable are another thing to look out for.” 😉

  2. The poor PMI’s should help u and papillon to re-establish longs on this pair,as long as the sovereigns don’t do a disappearing act on EUR/USD,methinks.No way am trading this pair,Euro looks on a mission to plunge(for now,that is).

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