EURGBP, Sell at .8748 and .8769 (stop .8799), Wednesday

28 mar 2018

In line with yesterday's bullish call, the rally from last week's low extended. But, as expected, this bounce lacked the momentum to break through, on a closing basis, a Marabuzo line from March 20th or the 13 day mvg avg. Minor net gains were still posted but it is the upside rejection that we look to begin a renewal of the selling pressure that has marked the last 3 weeks. So this morning’s call is a Sell at .8748 but leaving room to also Sell at .8769, Asia’s high. The risk is yesterday's .8799 peak with downside objectives at .8731, .8716, Monday’s low, and .8698.