The EUR/GBP, one of my favorites, is again trading in a channel. The channel is about 100 pips wide and the pair has been inside the channel for about 40 bars at this writing. I'm looking for a break on the hour chart either up or down. I'll use the other side of the channel for my stop depending on which way the trade goes. I'll buy if it closes above 0.9085 and I'll sell if it closes below 0.8988. I'll move my stop to break even at about +30 pips and start saving pips soon thereafter using a trailer. I'm looking at a profit target of about 0.9200 on a buy trade and 0.8850 on a sell trade. I'll keep you posted.
Happy Trading!
Happy Trading!
