EURGBP Update

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURGBP : Day Chart (Posted Below)

Our move upwards in price was halted yesterday with the red candle and the key bfactor being the RN .9000. If you look back on your day chart you will see this RN having been a key factor on support and resistance.

I have placed the 100 EMA on our chart which in general shows us support on this cross. This is currently the case at present and we currently have price sat on this EMA with the RN above. Dynamaic Traders not yet in this trade would do well to WAIT for a BOB and use their ESLT to enter when ready.

Make sure you read our previous post wher we established the trend overall was down, however short term was indicating up, which if we break the RN we have the trend line as a target.

Beaware of the BOE announcement today on the economy, which could lead to a rapid move on price. If in the trade tighten your stops and manage your position.

Note the recent convergence showing on this DAY chart.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

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