UPDATE ON EUR/GBP MARKET

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UPDATE ON EUR/GBP MARKETEuro/British PoundFX:EURGBPLukegforexEUR/GBP 1D - As you can see price has played out well up to now, giving us the correction we expected post BOS to the downside. We are now simply waiting for the penetration of the Supply Zone before we look to execute. I believe its important that price trades us into the new Supply Zone marked out and gives us the BOS needed before we can look to place any short positions. We have already had two penetrations of zones followed by two breaks in structure. We are now waiting for the third and final, this in theory should confirm longer term bearish structure to the downside giving us the confluence we need in order to place short positions in the market. I will keep you all posted with how I look to tackle this market in the coming days, for anyone who bought in before they looked to short well done, price is playing out well up to now.