EURGBP: Looking for short opportunities

The EURGBP just entered into a bearish market condition. It traded for 3 days in a short term range in between 0.8823 and 0.8776 (because it was trading at an important long term resistance level – blue line). Please take a look at this chart:

EURGBP
EURGBP

So, we will have a bearish market condition as long as the market continues to trade below the short term range.

Here is my trading plan:

As long as the market continues to trade below 0.8776, I will look for short trading opportunities, targeting the next long term support level at 0.8649.

All long opportunities will be ignored.

Good luck

Raul Lopez

crosses, EURGBP, EURGBP analysis


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .