informedtrades
Short

8 to 1 Reward/Risk on EURGBP

FX:EURGBP   Euro / British Pound
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Nothing warms my heart quite like a legitimate setup with a high reward/risk ratio -- and that's exactly what we're seeing on EURGBP . The pair ran fast into resistance, and one of the by-products of any big move is that there won't be many support/resistance levels when the market decides to reverse itself. As the primary trend on EURGBP is still bearish , the stalling at resistance that we're currently seeing could portend a quick move back down to support at .7832. My stop is at .8012.

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Have you considered the fact that GBP is the weakest currency after JPY?
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