Eur/Gbp short ,this pair has been doing some random moves lately ,heavily news dependant for now, UK inflation higher ,less spending in the high streets in the retail sector, I am more focused on eur/usd trade for now.
snapdragon1970 posted: Eur/Gbp short ,this pair has been doing some random moves lately ,heavily news dependant for now, UK inflation higher ,less spending in the high streets in the retail sector, I am more focused on eur/usd trade for now.
The range is getting tighter and tighter, there should be a breakout and a big move soon.
I took a long off 83527 my stop loss is at 83412 ,I think it will close the gap down of yesterday, why did I make this trade, two reasons, first since the spike down yesterday it has been pretty flat, today we are seeing more swings from the MA which we are slightly above now which is a positive, this does slightly tip the odds in favour of Long positions for now.
I am waiting to break the major support .83326, price action already broke the higher low trendline as you can see. Next target would be .81165 which is acting as another support. On the other hand, a break above recent minor resistant .84019 would open door towards .86262 or even higher to the lower high trendline.
Don’t forget any surprise from French Election could be the reason for a marget gap. (Important: My chart and prices are from FCA Tickmill, your broker might have a little different price)
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