EUR/GBP Long Trade Entered on Triangle Break
EUR/GBP Technical Strategy: Long at 0.8546, Targeting Above 0.8648
The formation of a Triangle chart preceded a breakout higher, as expected. Buyers now aim to challenge the 23.6% Fibonacci expansion at 0.8648 and we will enter long, aiming for a break above this barrier to expose the 38.2% level at 0.8803. A stop-loss will be activated on a daily close below 0.8494.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.