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18/02/2014: BOUGHT EUR/GBP @ £0.82198


The move above intraday resistance at £0.8226 on the hourly chart completes a base pattern that implies £0.8300 (80 pips).

A pullback is finding support above £0.8210.

The intraday momentum indicators are settled in bullish configuration and the 55 hour moving averages which had been acting as resistance is turning up and is now the basis of support.

I have gone long at £0.8215 and placed my stop at £0.8181 (39 pips) which is under the support at £0.8186.

 


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At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.