Greetings!
What a great week of trading the forex markets! 🙂 Of all the trades this week, one in particular, strikes us as the most interesting. The EUR/GBP pair has many reasons to rise in the coming days and weeks, the most important is EURO strength. Now, we did have some good news recently in the Sterling with Retail Sales coming in at a strong 0.6% vs. 0.0% previously, but the EURO should be able to better that power in the near term. We see upside targets at three levels and have set our limits to take profit at them;
Profit #1: 0.8395
Profit #2: 0.8420
Profit #3: 0.8565 (this one could take a week or two)
For those of you new to trading, the EURGBP has a higher value per pip than most pairs and is currently worth $14.81 per standard 100K lot size.
Best wishes and happy trading, remember to stick to a demo account until you are comfortable!
Visit http://www.FastPips.com for your free trading course and check out our newest Forex Video service at http://www.ForexImmersion.com
Until Next Time,
– Jason 😉
