Last Monday I wrote about the EURGBP, it was trading near an important level on the long term charts, and as always, when I talk about LT levels, I’m actually talking about zones. The zone for the EURGBP was between 0.8560 and 0.8368. So in order to start looking for trade opportunities, the market needed to break either side of the range, and of course, I’ll only look for opportunities in the direction of the breakout.

Guess what? The EURGBP already broke through the lower extreme of the range:

So you know what the plan is here right?

I’ll only look for short opportunities. The next LT support level is at 0.8362

Trade Safe!

Raul Lopez
Forex Training