FX:EURGBP   Euro / British Pound
192 2 2
Potential set up for the market open
Big break to the upside, despite god news out of the uk and dovish news from the euro. I did not take the trade.
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I posted this chart a couple of days ago and the pair put in two amazing doji candles. Today the euro is a little weaker and is testing the bottom of the triangle pattern. PMI data for the GBP is out tomorrow and recently uk data has been strong often better than estimates. If today's candle closes below the triangle I will go short, watch closely when the data is released and hopefully hit a target of 100pips. Of course Wednesday is a monster day, I might well allow this pair to trade into the FOMC but will ditch it if we do not get a sign of taper.
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