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EURGBP Midterm Trade Strategy

Trend is the friend.

EURGBP Midterm Trade Strategy

We have entered a short trade and it is running as predicted.

EURGBP Short Trade Breakout Strategy

As seen on the chart, following the short-term support, the trendline is broken as well.

The main support is 0.87400.

On the fundamentals side, GBP is much stronger than EUR.

Currently, the pair is trading at 0.87782. We may see some correction of 10-15 pips.

Those levels can be used as adding short orders with the target 0.87400.

If the price breaks below the  0.87400 support, we will add short orders targeting 0.86900 and 0.86700. We will follow the fractal peeks line and MM levels.

EURGBP Midterm Trade Strategy: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

 

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