rajenderam40
Short

head and shoulders pattern

FX:EURGBP   Euro / British Pound
77 0 9
To drive a little further away from the influence of the major risk events this week (Fed rate decision), I will be looking for a continued strenght from the sterling.

One of the best set-up this week is the EUR/GBP             . Has formed a clear head and shoulders pattern with the right shoulder being a test to the former broken rising trendline support as the new resistance.

The stands at 0.7700 and I will be taking a short position if we see a break there as this is also one of my favorites to play the short side on EUR after more than dovish ECB action last week.

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