GBPEUR SIMPLE BUT EFFECTIVE BREAKOUT TECHNIQUE (4HOUR)

Aug 1, 2016

GBPEUR looks to continue its push to the downside following,

a break and a 4 hour close below the;

1. trend line and 2. the 61.8% fib level.

Confirming this is the breakout retest of the 61.8% level

a major critical level along with the further confirmation from

the moving averages which reflects the average consensus of value in price.

All these confirmations are a key factor in the probability of prices continuation the the downside.

Aug 2, 2016

Note

First target achieved, pair moving as predicted to the downside

Sep 15, 2016

Note

Trade was invalidated due to stop lose being taken out, however you can see that it eventually met its targets.

Need to let the market breath.