This pair has been in a downtrend for several days, but started to see a little bit of life near the 0.8450 handle. The 0.8450 level has significance on longer-term charts, so of course I am paying attention to that.
Today’s EUR/GBP signal
Risk 0.75%
Trade can be taken any time
Short Trade 1
Sell on an hourly close below the 0.8450 level
Stop loss should be at 0.85
Take half profit at 0.84
Full profit at 0.8350
EUR/GBP Analysis
Expect momentum to pick up below this level, as it has been important in the past. Ultimately, waiting an hour for a close below this level should flush out the last remnants of buyers. This trade is with the trend, so therefore I believe that the pressure will continue.
