Yesterday I closed my long euro position when it hit above the 1.1820 level. The support line currently holds at 1.1750 and only at this level, I will be looking to long again.
In the mean time, Sterling has dramatically rallied from 2-year lows of 1.7049 to trade at 1.7240 at this point, hitting earlier highs of 1.7338. Cable is in price consolidation mode and should dip back into 1.7170 - 1.7200 region. A sustained closing price above 1.7205 level for this week should set off a further rally to 1.7400.
In the mean time, Sterling has dramatically rallied from 2-year lows of 1.7049 to trade at 1.7240 at this point, hitting earlier highs of 1.7338. Cable is in price consolidation mode and should dip back into 1.7170 - 1.7200 region. A sustained closing price above 1.7205 level for this week should set off a further rally to 1.7400.
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