Confessions of a Forex Trader

The EURGBP is one of the Forex crosses that has been trading consistently between support and resistance levels. I like it when I see any pair behaving like this; it gives me confidence and feel more comfortable looking for trade opportunities.

Please take a look at the next chart:

EURGBP

Now that it is clear that the EURGBP broke the resistance level, I will be looking for long opportunities until it reaches the next LT resistance level.

My Trading Plan:

As long as the EURGBP trades above 0.9118 I will be looking for long trade opportunities. My next LT resistance level is at 0.9271

All short opportunities will be ignored.

Trade Safe!
Raul Lopez

Tags: EURGBP, EURGBP analysis, Forex Crosses

This entry was posted on Monday, November 30th, 2009 at 6:16 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.