EURGBP took out previous swing lows at 0.8340 area and triggered stops. Buyers immediately stepped in and a sustained bid has taken place. PA slowed (inside day) and accumulation occured with the inside day breaking today for a big move up. Next area of resistance comes in at 0.8560 area (previous support, 38.2% Fib and cluster of lows and highs.
Comment
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Pair hit previous support (now resistance) on the 38.2% Fib and is now back in the support area. We should see the PA slow down between these two levels until one is broken decisively for a big move