EURGBP: Adding to Long Trade


We are long the EURGBP from .6938 (since 10/10). The pair looks more bullish now than it did then so we would like to add to the position. Notice that the .6893-.7007 advance is in 5 waves and that the decline is in 3 (and ended right at the 61.8% of .6893-.7007) at .6937. The next rally should end well beyond .7007. Move the stop for both lots to .6932.