EUR/GBP bounce running out of steam…..
Just for you ‘fibonacci’ boys out there, that neat little bump up in the EUR/GBP following the poor UK retails sales, floundered at the 50% retracement of the 22/Oct fall to 8 Nov base at 0.8063/64.
Offers sit ahead at 0.8070/75 ( Oct 31 high 0.8075) and there’s also further tech res at the 61.8% coming in around 0.8087 behind the 200 day MA at 0.8082. Bids are now moving up into the 0.8040/50 area after the buy stops were taken up earlier through 0.8050
EUR/GBP’s @ 0.8054