EUR/GBP no breakout

November 16, 2005 by Trader Rich 

EUR/GBP breakout

 

 

 

 

 

 No breakout has occurred and currently I’m down 68 pips.  The EUR broke through last week’s resistance high of .6774.  It has reached a high of .6810 which is now the short term resistance for the pair.  I’m riding this one out a little longer mostly because the right triangle pattern is technically still intact and my position is with the trend.  If the .6810 resistance is broken, I’ll have to consider a stop.

 

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