alan3cA
Short

EURGBP, Sell at .8748 and .8769 (stop .8799), Wednesday

FX:EURGBP   Euro / British Pound
In line with yesterday's bullish call, the rally from last week's low extended. But, as expected, this bounce lacked the momentum to break through, on a closing basis, a Marabuzo line from March 20th or the 13 day mvg avg . Minor net gains were still posted but it is the upside rejection that we look to begin a renewal of the selling pressure that has marked the last 3 weeks. So this morning’s call is a Sell at .8748 but leaving room to also Sell at .8769, Asia’s high. The risk is yesterday's .8799 peak with downside objectives at .8731, .8716, Monday’s low, and .8698.
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