British Pound (Dec.) –There is a suggested short entry from the 16271 close of Sept.18. We believe stop protection can be lowered to intraday penetration of 16271 or a close at or above 16208. It appears that a Head and Shoulders formation that had formed has seen the neckline penetrated. We believe the price objective of this H&S counts to approx.: 15175. Retracement resistance levels are approx.: 16135; 16251; 16367. The next series above is approx.: 16244; 16394; 16544.
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