EURGBP: Potential Bat Setup

FX:EURGBP   Euro / British Pound
We have a potential bullish Bat pattern setting up on EURGBP             , which is inline with the overall trend of this pair. Fundamentally, both EUR and GBP are still bearish . Going into this trade setup, we expect an improvement in market risk sentiment to strengthen the EUR.


- EUR bearish (fundamental of EUR is still weak) - no key risk event next week
- GBP bearish (fundamental data on GBP has been weak) - watch out for BoE Monetary Policy

For more detailed analysis, visit our blog at: http://www.fxpresearch.com/market-analysis/2016/1/31/31st-january-market-analysis
great, thank you
Long at what price level?
akyong griffin1989
i'm looking to long around 0.7360 region
sounds interesting, what will be your targert?
akyong griffin1989
i normally have my TP1 at 38.2 retracement and TP2 at 61.8 retracement from the top to where i entered
+1 Reply
if EURGBP gets supported at 0.73600 region, i see it going all the way to 0.79000 with possibilities of hitting 0.82000 region. Do you agree?
akyong griffin1989
I dont usually hold my trades for that huge movement. When it hit my targets i get out and look for the next opportunity
nice. Thanks man
PERFECT...... THX.......
+1 Reply
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