In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we observe a technical breakout trade in the EURGBP.
The reason for this explosive bullish move was due to the leader of the UK Brexit Party, Nigel Farage, deciding to withdraw the contest of 317 Conservative Party seats. This is a massive boost for the Conservative Party and for the pound.
So, when we apply this information to the EURGBP price chart, we can see that the move caused a technical breakout to the downside after over 3 weeks of consolidation. This is quite significant, although, the daily candlestick reversed significantly back inside the consolidation zone on the close. However, if price pushes lower and breaks below yesterday’s low of 0.8558, then this would then become a significant high probability trade to the downside.
Technical Breakout Trade in the EURGBP – Full Video Analysis
Take your trading to the next level with our TLTR Membership. You will soon discover why we are trading’s best-kept secret. We are successfully building the world’s largest group of profitable traders and would like you to be part of it.
You can join for as little as $19.99 per month, no contract, cancel anytime. Just one profitable trade with us per month covers this amount, the rest is pure profit. You will benefit from unparalleled access to our professional traders, our transparent trading performance, our LiveTradeRooms and access to the most comprehensive trading education on the market. What have you got to lose? JUST CLICK HERE TO GET STARTED NOW and see how real money is made!