The bears pair of the week. Shorting today into Dec. EURGBP
You could definitely do well shorting the EURUSD pair today, but even more lucrative is probably to go short on the EURGBP currency pair.
Why do I make this call?
Because it is imho more bearish than EURUSD at present, because unlike the latter which will probably have a bounce intraday at least during the start of the Asian session, bears will move in at some point on EURUSDvat about the 1hr timeframe from memory.
But every chart I viewed of EURGBP 1minute to 3monthly has the tipping-over effect and right from the get-go I think this will sell-off.
Of the other EUR pairs I have checked, i'm only about 1/3 through, EURCAD & EURAUD are also very bearish on the charts and the EURUSD I expect to gain the bearish sell a bit later during Asia Monday.
I will probably take a small lot size Short and ride this one into December using a mental-soft-stop which puts me in control to exit the trade when I want. For example, if an intervening bullish news story is released to the market to pump up the falling EUR.
I would like to report back when profits or losses are taken. For a review of trade.
