Coleman: Three reasons why I’m buying EURGBP

Ian Coleman from First 4 Trading outlines the three reasons why he believes that selling pressure in EURGBP will be capped. First, the 61.8% Fibonacci extension level at GBP has been exposed. Second, buying on Monday formed a bullish outside day for the currency pair. Finally, a reverse Head and Shoulders pattern has formed on the two and four hour charts. With this Head and Shoulders pattern in place, Ian is planning on buying one unit on the right shoulder at GBP , and b