Tag Archives: strategy

EUR/GBP: big level at 0.86063

The 0.86063 seems to be a big level for the EURGBP with three factors creating confluence: 50% fibo level of the 0.91495-0.80680 downleg, important swing low on Jan.28, measured move target of the most recent A-B-C corrective zigzag.
For this reason (ie. strong resistance) I may prefer the GBP over EUR when taking long position against the dollar.