Just wanted to do a quick update on the GBP/JPY.
We mentioned how Fibonacci retracement levels are important and look just where the currency is straddling – the 38.2% Fibo level.
Depending on how the European session opens up (in about 3 hours), we may see a potential retracement back up to the 23% line, however, the underlying trend appears to be down and there is more potential downward pressure so look for a potential move to the 50% or even the 61.8% retracement level.
Just want to remind everyone about the C2FX Forex Trade Sheet is now offering a one month subscription to test drive our trade sheet for only $150. This special subscription is for the first 100 traders only. Your one month subscription will apply towards your annual subscription price so you only pay the difference.
Also, while we’re running our one month subscription, those who want to take their trading to the next level will receive 1 FREE month on our yearly subscription.
For more information, log onto www.c2fx.com or email firstname.lastname@example.org.