GBP crosses/Technical Analysis/Trade Ideas

EUR/GBP: Might be some value in trying to pick a short-term top

Overall I remain bullish on this pair but I’ve been trading it since 1986 and it does nothing in a straight line. With cable touching the base of its trading channel, and crosses like GBP/JPY also at or close to ‘value’ levels, there might be some merit in trying to pick a short-term top in EUR/GBP.

I’m not sure on levels yet, its a matter of watching and waiting but I’m not averse to selling somewhere say near .8430/40 in anticipation of a quick 100 pip dip?

  1. One day before me, you are a forecaster of my thought or I am a delayer ( I pick the second option ;-). My trade idea on the comment section “http://fxww.dreamhosters.com/?p=4788#comment-14913”

  2. I scare myself sometimes 🙂 I sold most of my longs but didn’t go short; not brave enough in this environment. I’m happy though and will stick some silly bids in and hope to get filled

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