Pair: EURGBP
Timeframe: Daily
Long or short: Short
Trade rationale: EURGBP appears to be retracing to the fib 61.8 level which is in line with the rising trend line after a heavy rally. Stochastic also already left the overbought territory and is heading south. A break below the current retracemnt can pull down the pair to the rising trend line.
Entry: 0.8510 (Sell Stop)
Exits: SL at 0.8570, PT at 0.8330 with a trailing stop of 60.
Trade is offering an RR of 1:3
Chart:
BIJOY