The Euro/Pound pair has been trading in a tight range since the recent run up. I'm prepared to buy on a close of the hour bar above the upper channel line and sell on a close of the hour bar below the lower channel line. This is a typical "Channel Trade" of the type we have done dozens of times before. I'll move to break even at +30 pips (because it is the EUR/GBP and volatility is low with this pair). The initial stop will be the other side of the channel from where we enter. I'll keep you posted as things develop.Happy Trading!
