EURGBP breakout

28 mar 2015

PA has broken out of the 2 week trend channel giving way to a possible fibonacci trade. This short allows for the selling into the retracement therefore targets are strict. On the Daily, this target at 0.72100 is the area for a 61.8% fibonacci retracement where a buy opportunity will arise to trade the daily extension however in the current climate more downside is more probable.