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Why I’m buying EURGBP

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May 03, 2016 eur, eurgbp, euro, forex, fx, fx markets, fx trading, gbp, ian coleman, ian coleman first 4 trading, pound, saxo, saxo bank, saxo bank saxo tv, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor.com, saxotrader, saxotradergo, saxotraders, saxotv, trade idea, trader, tradingfloor.com, tradingfloor.com saxo tv

Ian Coleman of First4Trading.net is looking to buy EURGBP and highlights the pair in a corrective bearish channel formation in the monthly chart.

Coleman notes that levels above 0.8062 - a swing low from 2010 - have attracted sellers. He plans to buy EURGBP at market level with a stop of 0.7825 - just below yesterday's swing low - and a target level of 0.7914-0.7924.