mcpeacocks
Short

short EG, take 3 :) long term

FX:EURGBP   Euro Fx/British Pound
111 2 5
see chart for details, but I see a break and retest of a monthly trendline (in red), as well as a weekly trendline (in blue).
also, the resent swing high by EG touches the 0.618 retracement of the prior major move down.

My ultimate target could therefore be at 0.63981, the 1.618 extension level of most recent move.
mcpeacocks
2 years ago
before anybody else spotted this and corrects me - it seems I have drawn the fib in the wrong direction - nonethless, when drawn correctly, there is a touch of the 0.382 retracement. the target of fib extension would end up around 0.63928
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mcpeacocks
2 years ago
snapshot
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