With the GBP getting battered across the board its unwise to go against the trend but if the risk/reward is good enough its worth taking a punt.
.7862 is WR1 resistance and we're just 6 pips away from it.. We've also entered a selling zone for this pair so if EUR's rise against the GBP is going to stutter then here's a good place for it to do so.
I've gone SHORT here from .7855 with a miserly 12 pip STOP at .7867. The fundamentals are against this trade but FX trading is a gamble and the risk/reward makes this a gamble worth taking.
.7862 is WR1 resistance and we're just 6 pips away from it.. We've also entered a selling zone for this pair so if EUR's rise against the GBP is going to stutter then here's a good place for it to do so.
I've gone SHORT here from .7855 with a miserly 12 pip STOP at .7867. The fundamentals are against this trade but FX trading is a gamble and the risk/reward makes this a gamble worth taking.