The EUR/GBP is setting up for another entry. I'm not sure whether it will move back up to the 800 sma, or break down and run from the 800, but it is likely to do one or the other. Here is what the chart looks like:
I'll buy on a close above the upper channel line on the hour chart and look for the pair to move toward the 800 sma. If it closes below the lower channel, I'll go short and look for support around 0.8850. All of the other standard rules apply for this pair. Move to break even at +30 pips. Put a trailing stop on. See where it takes us. I'll keep you posted.
Happy Trading!
Happy Trading!
