SamKent
Long

EUR/GBP range trade

FX:EURGBP   Euro Fx/British Pound
42 0 1
The EUR/GBP             is trading within a well defined range. As we can see, this range seems to be defined by lows that are formed by a small consolidation period, while the highs are sharper, with more of a V structure to them. We're currently trading towards the lower part of the horizontal channel, and so our plan of entry will be to look for a small period of consolidation in both price and the RSI , which will then allow us to set a long trigger just above the consolidation zone, with a stop loss under the channel, and a profit target at the upper part of the channel, making for solid r&r.
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