Eur/Gbp poised just above 61.8 Fibo

Written December 3, 2009 at 12:45 AM EST by  

Eur/Gbp is poised just above the 61.8% Fibo of .9043, possibly for a move to the upside. If the pair can hold this level look for .9062 (200 hour M/A) to act as first level of resistance. Next level to upside would be the 100 hour M/A at .9089.

If we break below a retesting of yesterday’s low (.9024) is likely. This level should act as a good level of support.

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