Trade Idea: Sell EURGBP at 0.79050/100 by Reece Marini

EURGBP H1

EG1

Medium term players will looking to sell into the 1:1 (Blue) and 38.2 fib that coincide at 0.7905/100 with a stop 20 pips above the 1:1 (Blue) around 0.79320, first profit target will be the recent low at 0.78300.

Look to move stops into breakeven once the market has moved one to one in the favored direction of the trade, in this case 20 pips.

* A 1:1 refers to a current correction being equal in length to a prior correction

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