informedtrades
Short

Ceiling in on EURGBP?

FX:EURGBP   Euro / British Pound
17 0 0
EURGBP             has been in a nice and clear downtrend, though recently pulled back to around .8050 this month. Price is now just below the 50 SMA , a key Fib level, and resistance. Moreover, candlesticks are showing wicks there, suggesting bears will defend the 7905 price level. As such, I'm set to short at 7905, with y stop at 7950 and my target profit at the recent lows of 7765.

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