As noted on Monday’s blog post, bearish price action on the EUR/USD (a daily chart of which is shown) was targeting strong support in the 1.3250-1.3300 region. As it turned out, price on Tuesday morning dropped to just above the 1.3300 level before retreating back up a bit and stalling. The bearishness, however, does not appear to be over just yet. Any strong subsequent break below this 1.3300 level could potentially target further support in the 1.3050 region.
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2 Responses to “EUR/USD - Stalled Above Strong Support”
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what’s your’s view for gbp/usd for this sharp move and break of 38.2% of fib around 1.4870/80.
thanks
Hi St_fx,
Thanks for your question! I will post some GBP/USD analysis first thing on Wednesday morning. Thanks!
James Chen