Trade Idea, 24 Feb: Sell EURGBP

By | January 30, 2017

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EURGBP

Sell 50% @  Market (0.8431)

Sell 50% @  0.8470

SL @ 0.8505

TP @ 0.8300

Trade Parameters:

This order is only good for entry purposes until 5.00 pm NY time today

As with Tuesday’s order to sell the cross, the charts still look heavy, so really just jumping back in to reinstate the previous short position.

If, as I suspect, we are building a head and shoulders (daily chart below), we are either about to see a big move higher in Cable or a decent move lower in the Euro. Or both!

This information is a personal view only, this being a trade being undertaken by FX Charts. It is not an inducement or recommendation to trade although you may do so if you agree with the parameters of this idea.. Refer to our disclaimer here.

These market alerts are provided as part of a trial basis only. To continue to have access to alerts at the end of the trial register at fxcharts only. To continue to have access to alerts at the end of the trial register at fxcharts.