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Forex Trade: Buying EURGBP
The two day EU Summit is pretty much over and done with and we didn't get many surprises which could cause big volatility in the markets, but the event did create good technical setups for me to trade.
I just entered a buy trade on EURGBP, the setup is not fully complete but I've got this little gut feeling that there are good chances of the EURO heading higher...
This gut feeling is back by an analysis of 3 different forex trading charts: EURJPY, EURUSD and of-course EURGBP.
I'm waiting on a breakout of the top forex trend line and I foresee two resistance levels (2 yellow levels above of price).
My profit target is 75 pips from my entry and it is located at the 0.88557 price zone. My Stop loss is at the 0.87606 level which translates to 19.8 pips from my entry.
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Keep in mind that this is not a signal in anyway and you need to do your own independent analysis, this is just me releasing my own trading idea of what I am doing. Read the risk disclosures below before you act on anything as trading involves risks!
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