By Martin Miller — Apr 08 - 07:00 AM
EUR/GBP's fall closed on Thurs under the 0.8322 Fibo weakening the outlook
0.8322 Fibo is a 61.8% retrace of the 0.8204 to 0.8512 March rise
However the intra-day recovery gives bulls hope, as a trap could be forming
Bear trap: set when a mkt breaks below a technical level but then reverses
We are long at 0.8325 in anticipation for a bigger recovery
EUR/GBP Trading Page TGM2343 EUR/USD nL2N2W60CQ and GBP/USD nL2N2W60I6
Daily Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary