Thursday, June 25, 2015

EURGBP Buy Recommendation June 26th 2015

Currency Pair: EURGBP
Timeframe: Hourly Chart (H4)
Recommendation: Buy EURGBP @ 0.7100
Take Profit @ 0.7385
Stop Loss @ 0.7000

The EURGBP has corrected, but I think the sell-off is basically done. Sure, the Grexit issues may plague this currency pair and we could see a sharp increase in volatility especially if no deal will be reached before markets open on Tuesday, but the risk/reward ration on this trade is worth it to me.

Those who follow this trade should set aside enough capital for a second entry level just in case we will hit some rough trading over the next 72 hours which will open up trading opportunities. Overall I think the EURGBP will enjoy a short-covering rally which will take this currency pair back into resistance.

 PaxForex

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