EUR/GBP support still in place

Source: www.forexlive.com

Important technical support at .8490 held firm overnight despite a marginal break below. Stubborn longs should now consider reducing or scrapping their positions on a clean break below .8475 as there is daylight until .8200/50 and market chatter is that there are some big stops on the .84 handle. That said, there is obviously some decent buying interest around so we may be seeing a pause in the downtrend.


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