LeeThompson97

EUR/GBP Short Opportunity - Channel Reversal

Short
FX_IDC:EURGBP   Euro / British Pound
The top of the bearish channel is a good opportunity for a short position. This type of trade gives a good risk/reward ratio, stops should be placed outside of the channel. It is key that stops still allow price to move above the trendline and not be too close to the trendline, therefore the 0.85570 zone is a nice level for this. Targets could be the bottom of the channel or at the middle of the channel where a support level is visible