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Status: Open | Sell EUR/GBP | Entry: 0.8690 | SL: 0.8745

@11:35 ET > Price has closed below our entry line, opening trade at 0.8690 with a conservative stop above most recent high.

EURGBP T2 Entry

STATUS: STOPPED | SELL EURGBP | ENTRY: 0.8530 | SL: 0.8610 | LOSS: 80 pips

@12:35 ET > EURGBP sell trade stopped out at -80 pips, however, we still like a short on this pair and have posted a new entry line, see chart below.

STATUS: PENDING | SELL EURGBP | ENTRY: TBD | SL: TBD

EURGBP Re-Entry TL

This countertrend break setup is the result of our setup from EUR/GBP Market Setup from 05/05.  More info to follow…

@14:10 ET > This trade is based on a break of our entry line (see 15min chart below).  Stop is above recent high.

@12:42 ET > Looking at monthly chart below, EUR/GBP, which has recently been in a long term uptrend, has broken below our support line.  We’re not going to take a position yet, instead preferring to wait until price makes some sort of tradable retracement or consolidation.

@15:46 ET > For more info on the recent EUR/GBP bearish movement, see James Chen’s Chart of The Day.

Status: Open Trade | AUDUSD | 05-04-10 | Entry: 0.9087 | Stop: 0.9267 | Exit: TBD | Profit: TBD