Wednesday, January 29, 2014

EUR/GBP: A Case Study In Contradictions

On the bullish side, the EUR/GBP is testing a critical long-term support level. The 61.8% Fibonacci retracement of the July 2012 to February 2013 rally comes in at .8160. Representing the mathematical “golden mean,” 61.8% retracements are widely watched by the market, and support from traders buying around this level



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