I want to keep my 1st trade post as simple as possible.
Key Support for EURGBP = 0.833
The inverse of this Key Support level is GBPEUR = 1.20
‘Corporates’ hedge when GBPEUR trades at 1.20
I propose trading in the direction of the hedge confluent with a strong support level

Proposed Trade:
Buy EURGBP @ 0.8330
SL 0.8290
TGT 0.8530 (Recent Resistance)

Risk: 43pips
Potential Gain: 200pips
Risk/Reward: 1/5

Happy pip hunt!

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.