The EURGBP was one of my top trade ideas for the past week. We first discussed the retest of channel resistance on August 28th. The bearish rejection candle on the 29th signaled that buyers were exhausted and a move lower was likely. We reviewed the Euro cross again over the weekend when the pair was trading at 0.9115. However, the best indication of an imminent selloff came with Tuesday’s close below channel support. By 5 pm EST, sellers had secured a 0.9008 close, which was well below our key level at 0.9040. This left us watching for selling opportunities from the 0.9040 area for a move toward 0.8920 and perhaps ... (full story)