EURGBP breaks out of channel, more potential upside

13 sept. 2015I’ve had a nice run trading the range here. My last trade stopped out just before the market close marks the break out move. Instead of comparing the Euro against the Dollar, I’m doing it against the Sterling and it looks like I won’t be giving this currency a bearish sentiment much longer. I would not go full bullish on the Euro, but rather reduce my bearish sentiment.

This is another I want to show completing the breakout pattern. This breakout is significant based on the size of that bullish candle as we headed off into the market close. Furthermore, price has several opportunities to break new lows, but was unable to do so. I might expect a temporary pull back as buyers cover their positions closer to the market open, but I would hold off on any selling at the moment.