EURGBP – Sell Trade Setup At Role Reversal Level Profits | May 12
EURGBP – Sell Setup @ RRL Profits (1hr chart)
Yesterday in the daily members commentary, we suggested selling the EURGBP at the role reversal level of 7225. The pair literally went 1 pip higher, then sold off for over +65 pips (which are almost +110 since the value of this pair per pip is higher).
Congrats to the members who shorted this as you are in a nice profit now and were virtually never in the negative.
This also shows the power of not waiting for confirmation in the form of a price action signal.
ST this level holds the bulls in check. A daily close above here negates the bearish bias. Downside am still looking for an attack on 7030.
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