Tuesday, April 24, 2012

EURGBP Bottom in place?

EURGBP appears to be creating a double bottom with it's mid-2010 low. I believe this level will serve as a launching point for a move which should exceed .908. This presents an excellent risk-reward ratio for this trade. If this chart is correct, it may make more sense to short GBPUSD instead of this pair as I expect EURUSD to remain weak for over the next few years.

No comments:

Post a Comment