23 July 2010

EUR/GBP : Turning Down

  • Numerous attempts previously to sell this stopped out for small losses.
  • Latest effort in at 0.8450 beginning to look like it might work. Both weekly and daily charts look like they have turned down finally. 
  • Trigger today was UK 2Q GDP +1.1%, >E+0.6% + Bloomberg news story EU stress test only on trading assets and does not include HTM.
  • Now at 0.8336. Sell rallies now towards 0.8400.
  • KIV monthly triangle downside objective is far far away at 0.7542 (bold pink line).

No comments: