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Monday, October 18, 2010

$EURGBP is Around!

Hourly 200sma was broken at last, adding the broken trendline to it will make a great opportunity on this pair.
Long-term trendline is broken now and price is still below it.
As you can see in the hourly chart above, price is going to retest the trendline again from below.
Wait for a bearish candle in H1 between the trendline and 200sma and go short there. In this case my stop will be near 0.8800 and I'm looking for around 0.8650 level.

Good luck,

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