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EURGBP: Sell Trade Setup At Role Reversal Level Profits

Published 05/13/2015, 01:43 AM
Updated 05/14/2017, 06:45 AM
EUR/GBP
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EUR/GBP – Sell Setup @ RRL Profits (1hr chart)
Yesterday in the daily members commentary, we suggested selling the EUR/GBP 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.

EUR/GBP 1 Hour Chart

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