The correction held the 1.2225 area....
The correction off the initial move to the 1.2200 level, rallied right up to the 1.2225 level (old swing low) and stalled (see prior post). Bears remain in control.
The break below the 1.2200 level has now triggered stops. Targets remain hard but the bias remains bearish below the 1.2200-04 level now (underside of lower trend line). Stay below, and the bears remain in control.
PS EURGBP is soaring. GBPJPY is tumbling.
