EUR/GBP - Euro British Pound, American Session

By IBTimes Staff Reporter | January 08 2009 4:19 AM

0,8912. EUR GBP broke 0,8980 support. EUR GBP is in an downtrend directed by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR GBP. The downtrend should continue on 0,8650 support (262 pips). The price should find a support above 0,8850 (62 pips). => We could take a short position at 0,8935. We will put the stop loss above 0,9000 (-65 pips). The targets are 0,8850 (+85 pips, risk/reward 1:1.3), 0,8650 (+285 pips, risk/reward 1:4.4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

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