EUR/GBP

[RobJ 0]

Hello,

Any thoughts on how low the EUR/GBP will go?  It appears to be in a current support zone but looks like it could go lower. 

Are there any other good Forex pairs for a Brexit trade this late in the game?

[Zack Zarr 5]

From the technical point of view, the support is broken, there is no demand zone in control at the moment. The nearest demand zone (buy zone) is at lower levels near 0.85. For the time being, the main thing I am looking for is a supply zone (sell zone) 0.88.

 

With the Brexit news, this pair is very tricky to trade, plus the fact that we don't have any idea what the big players are thinking (no COT data yet). I am staying away for the time being, I will post a chart with my analysis on this thread later today.

 

Good luck,

Zack

[RobJ 0]

Thanks Zack.  I think I will watch and see what happens when it gets near those zones.

RobJ

Edited January 29, 2019 by RobJ

[Zack Zarr 5]

I hope you got some short off that 0.88 zone, I know it wasn't an easy short to hold on to because the price jumped one more time before going down:

Now waiting to see if the broken support at 0.863 finally breaks down. Moving SL to BE would be a great idea now, plus taking some partial profit.

Good luck,

Zack

[RobJ 0]

I didn't get in on that one but I will be watching for that 0.863 level.  I'm not sure what Moving SL to BE is?

I just got your book in the mail.  I will start reading it soon.  Thanks. 

RobJ

Edited February 26, 2019 by RobJ

[Zack Zarr 5]

No worries, there is always plenty of time to enter a trade. Sorry for the abbreviation; moving SL to BE == moving stop loss to break even to protect your initial capital.

Let me know if you have any questions and feedback on the book.

 

Zack