alan3cA
Short

EURGBP - Sell at .8770 and .8788, Stop .8812. Wednesday

FX:EURGBP   Euro / British Pound
Despite being bought higher initially Tuesday, a sequence of 3 up days ended. Fresh selling interest emerged above the 13/200 day mvg avg area with the resulting decline leading to the production of a Bearish Outside Day – a negative formation that point to a renewal of selling pressure. So this morning’s call is a Sell at .8770 but leaving room to also Sell at .8788, an intraday Marabuzo line. The risk is .8812, the 200 day mvg avg , with downside objectives at .8754, yesterday's low, .8727, Friday’s base, or even towards, but probably not as low as, .8687, last week's bottom.
Jan 31
Trade closed: stop reached: Sadly stopped. May be a little stubborn but still like the downside here and, currently, feel my stop was misplaced.
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