Tuesday 14 August 2012

Update on FX setup on EURGBP (9 Aug 2012)

I've just closed my short position on EURGBP with a small profit which I entered not long ago. A trend reversal could be just started as there the pair is forming higher low and higher high after the rejection from major support level at 0.77600. 

The price failed to form a new low after the rejection from the major resistance level (0.79600) and two bullish bars have been formed after a higher low formed. That is where I closed my short position.

I hereby upload the price chart before and after the trade:

EURGBP - Daily chart (Before)

EURGBP - Daily chart (after)



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