Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
We Have too many news and indicator releases this week and so price action is choppy these days.
I highly recommend everyone to use small sizes and tight stops.
EURGBP in correcting its price like any other pairs, there are two trendlines in the way of this pair to the north:
I like the second trendline because if we assume that an ABCD pattern is forming then exactly at that trendline will be completed and it’s a good point to go short there.
Look carefully at the price action around those levels which are near 0.8460 and 0.8500.
I like to build a short position around 0.8500 level and will post other updates for it.
I’m going to write a fast update about this pair if any breakout we had, so make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Winner’s Edge Trading, as seen on: