The EUR/USD is still holding above the 1.21671 low which we identified as a potential sell entry level if the market were to break down through that support.

The Euro and Pound have regained their footing after another sharp sell off for both which has left the EUR/GBP stuck in its current range. A German ban on naked short selling raised concerns that there are more underlining issues that haven’t yet revealed themselves.

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What do you get when you combine a 13-year low with a positive rollover for open sell positions?