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Video / 18 October 2016 at 6:49 GMT

Technical analysis of a EURGBP trade: Coleman

Ian Coleman - First 4 Trading
Ian Coleman, of First4Trading.net, explains why he is selling EURGBP with a technical analysis.

He has a call to sell EURGBP at 0.9028 with a stop at 0.9105. His target is 0.8685.

Coleman will feature technical analysis of a selected trade every Tuesday on Trading Floor.

Non-independent investment research disclaimer.
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
going to 'double up' on a break of 0.8975 (if we get it through the UK figures)
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
would have expected more GBP strength on the beak of those figures
18 October
AlexF AlexF
yep...
18 October
AlexF AlexF
what just happened ?
18 October
AlexF AlexF
like it so far
18 October
AlexF AlexF
Comments from day three of the Brexit hearing

New Brexit treaty likely to be voted on by both houses
Parliament will have a central role in changing domestic laws
This is potentially bullish for the pound but I'm trying to find greater detail.
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Thanks Alex ... didn't see that one
18 October
AlexF AlexF
do u think this has some legs or good point to get out
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
..... I thought we would have a clean break ... there is a 13 count on 5 minutes .. I am going to stick with it
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
getting there now. We have support at 0.8949 and 0.8923... then nothing until 0.8660... I cant see anything that the first 2 marry up with so could drop quickly on a break
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
GBPUSD nothing until 1.2378 and 1.2422
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
just taken a little of the table .. free trade on the balance now
18 October
AlexF AlexF
Nice one I am in GBPUSD/EURGBP
18 October
AlexF AlexF
I will raise my SL to entry
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
good luck
18 October
AlexF AlexF
Time to set those targets after the US CPI
18 October
AlexF AlexF
Hi Ian first two levels on EURGBP passed, what are you looking at now ? 0.8660 ? quite a run till there
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I got a buy signal at 8920 support ... so looking for that to reverse now ... I want to short again but need to bide my time
18 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I couldn't ignore it as if i was a buyers, it was the perfect trigger
18 October
AlexF AlexF
Yes saw the resistance 0.8915-20 coming down again
18 October
AlexF AlexF
Pretty much linked to EURUSD action
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