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EURGBP Short Setup 

 July 9, 2014

By  Rayner

week

Weekly chart shows that this pair momentum is to the downside. It has another 180 pips more before approaching the key area.

daily

Daily chart you’d notice price likes to retrace about 70 pips before heading lower. Thus I’m expecting a similar move again.

4 hour

4 hour chart shows previous support turned resistance at the green area.

Look to short at the green area with stop loss of 25 pips.

Take half at the swing low at around 0.7920 and remaining half to ride.

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