Nothing warms my heart quite like a legitimate setup with a high reward/risk ratio -- and that's exactly what we're seeing on EURGBP. The pair ran fast into resistance, and one of the by-products of any big move is that there won't be many support/resistance levels when the market decides to reverse itself. As the primary trend on EURGBP is still bearish, the stalling at resistance that we're currently seeing could portend a quick move back down to support at .7832. My stop is at .8012.
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Learn more about trading with technical analysis: www.informedtrades.com
