EURGBP - 500 pip opportunity

now don't do anything

until price break 0.7383

and confirm

​in this time you can buy and get you target

0.7641

0.7870

0.8080

good luck

interesting. not what i see, but I'll watch

You are missing fundemetal aspect.
Draghi ECB want cheaper Euro already talk about further QE
Its one thing drawing lines on the chart another following facts.
Regards

fundamentally the trade works if we get another bout of risk aversion. Dax down = margin calls and e/u moves up. Their is a lot of short interest here in e/u. It will gain strength like japan If stocks become bearish. The fact that china needs to devalue farther should also be front of the important list. I think you are going to see it starting next month. This should cap risk rallies for the near term as risk comes on china going to let their currency move until right before it causes Too much pain...then repeat repeat. Once china gets fully set I think the next bull can begin. risk will range trade if they get what they want. GBP got hikes priced in....so room for some fat to come off there, also in a risk off environment, g/u going to take a hit. So potential double hit there. Rumors of ECB extending QE only a couple months after the current program started don't hold much weight to me. Maybe in the future? but they never going to get another qe approved with the current program still having a year to go! I don't follow every article on it, the the common sense indicator its ringing pretty loud. As long as greece elections don't throw a nasty curve ball I think this trade might work real well

Im on board : Euro bull

A premature call to be sure, however you have qualified it with your warning not to take the trade until above 7383. Good call.
I say premature because we will probably see 7120 first.
Thanks for the heads up.

Just checked the outcome of this trade. If it was EurJpy, EurCad or EurNzd; it would have probably hit TP but E/G is typically a short traveler.