By remaining within the region of 0.8973 during the first 4½ hours of this week’s open, EURGBP is the first currency pair fulfilling the recently defined parameters required to transition it to an opposite category. So there are a number of questions I will be looking to answer…
1. Will it remain bullish or will it cross back over into bearish territory?
2. If the latter, how far will it advance before doing so?
3. If the former, how far will it advance before finally returning to a bearish sentiment?
4. How long will this take?
5. How much of a profit will this return in U.S. dollars if the volume purchased is 0.01 lots?
6. If the rate pulls back at the start, how much room will it require to avoid being stopped out of an otherwise winning position?