EURGBP – False Break Setup Profits | Sep 24

EURGBP – False Break Plays Out, Range Structure Holds (4hr chart)
Earlier this week we talked about the potential false break setup on the EURGBP. As we can see from the chart below, this played out with the pair bouncing off the 7242 support and tagging the 74 handle today.

Many of the members traded this and profited well, so congrats to those that did. We also talked about shorting at range resistance, and this seems to have profited well, so plays on both sides as we had members going long and short.

For now the corrective structure remains in play with 73 and 7242 to likely be tested next. Only a daily close outside this range structure changes the bias.

eurgbp

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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