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Forex: EUR/GBP Technical Analysis – Profit Booked on Short Trade

Forex: EUR/GBP Technical Analysis – Profit Booked on Short Trade

2013-10-04 12:36:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices rallied as expected after showing a Morning Star pattern, positive RSI divergence
  • A break of resistance is at 0.8409 (April/May bottom, channel top) has exposed 0.8475
  • We’ve booked profits on our short position and will look to re-enter at a later date

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-chf_body_Picture_2.png, Forex: EUR/GBP Technical Analysis – Profit Booked on Short Trade

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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