89 has been noted as next ceiling by some of the banks ,be aware.
Break through of 88850 ,now needs to bounce off that level to show conviction of traders.
Good morning fellow traders,so far Eur has tested 88850 area twice ,next time it may break the level,will continue to hold .
Picked this trade 5 mins before the open, just looked right for a squeeze back up
90 pips up on this trade from yesterday .
I just took a Long position from 88600, this could be a very interesting open follow up.
From what I'm reading its more GBP weakness than Euro strength, no surprises if it drops lower.
I think this will test 88800 then retreat ,on the 4hr chart it looks bullish so we will continue to hold,88600 holding for now.
Sellers stopped out as most expected stronger GBP ,we got the hints earlier of a breakdown in the pattern.
We will look to 88800 as first major ceiling our trade from yesterday.