Wednesday, October 28, 2009

EUR/GBP Makes New Low

The EUR/GBP just made a new low beneath the long held 0.9000 level as projected. There is plenty more downside potential as you can see from my wave count. But for those risk averse, consider taking some profits on your current position and/or dropping your stop loss to just above the wave (2) high at 0.9238. If the pair rallies, you can add on if you choose. Whether you protect profits or are all in for the ride, this pair should continue lower in the coming weeks.

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