1 Oct 2007

Wow, the C-wave is bigger than I expected. And indeed GBP went into a overbought case.

I am letting go both long position and take my profits.

I have place two sell limit order - one at 2.0680 and the other at 2.0430.
The later one at 2.0430, I have place a TP at 2.0390 (Expecting the WMA5 to hit EMA100 and rebound, using the 1 hour chart).

2.0700 is the next Fib retracement level, which is a very strong resistance line.