By Peter Stoneham — Jan 14 - 04:00 AM
• EUR/GBP was capped by a 76.4% Fibo retracement level Monday, 0.8424
• The 200-day moving average the key level bind at 0.8426
• Our corrective short play from the high is in the money
• However, the pullback to 0.8386 looks tentative at best
• Strong weekly picture argues for cutting the trade early
• We might also consider a stop and reverse just above the 200DMAEUR/GBP Trader: [page:2343]
EUR/GBP daily candle chart:
(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters