I post this 4-hour chart not to necessarily show a potential selling opportunity, although this pair does seem ready to make a new low in a downtrend which is a solid sell setup.
I post this 4-hour chart not to necessarily show a potential selling opportunity, although this pair does seem ready to make a new low in a downtrend which is a solid sell setup. But most of the talk this week in the DailyFX forums has been about the EUR/USD and the GBP/USD and which one to buy. This chart shows what I look for to make such a decision. With the EUR/GBP moving down, this means that the GBP is stronger than the EUR. So if I am looking to take advantage of the USD weakness, I would prefer to buy the GBP/USD over the EUR/USD to take advantage of the stronger GBP. This is a small edge, but they do add up.
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