I am still not longing it. Even though there are strong bottoming zones around and below 1200 and it may go up to 1370 or possibly higher, I am not going to long it. At this point, I feel safer with waiting for the highs to short scalp them, as the opposite. Because eventually this will break below 1200 and won’t come back so soon. At least that is my opinion and that is what I will be trading towards.
EURGBP is still above 9000, even though it did a quick move below 9000 just few minutes before market closed today. But that was a spread move, not a real move. On all brokers, EG’s spread was about 20 pips by that time, so it might have been a SL hunt or simply the fact that we have a slow day due to a national holiday weekend coming up in the US. So I am not taking this move seriously, until we have a clean break of 9000. If it doesn’t break, we should still go towards 9100 or higher.
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