DislikedHello. My long term view on EUR/GBP, in which I am currently short: After the 2-leg move up (yellow on chart) I expect the pair to correct over the next few months. My 1st target is around 0.78, roughly the middle of the congestion area of the 1st half of 2016 when EUR/GBP was on its way up, although it may well go even lower (pink). After this multi-month correction, I would expect EUR/GBP to resume rising on to new all-time highs (green arrows) My current trades have roughly a 3-1 expected reward-to-capital at risk ratio, given where my SLosses...Ignored
This LT view I posted on Feb 15th still stands. I added to my shorts 2 weeks ago as the price moved a bit higher. SL still high above them, near the top of what I described as the peak of the big 2-leg move up. We have not yet moved south enough for me to lower stops. I post daily chart. You can refer to my chart of Feb 15th for LT view, within the context of which I have been shorting this pair