Thursday, January 14, 2010

EUR/GBP Wedge Breakout Imminent


The EUR/GBP price action is contained by clearly defined, converging support and resistance lines. Keep an eye out for a break in either direction, then look to buy on a pullback to the resistance line. Keep your stop loss on the other side of the wedge and move to break-even once price has moved sufficiently away for your order price. I have no current directional bias on this pair and am equally as happy for it to break to either side.

No comments:

Post a Comment