FX.co ★ Trading tips for EUR/GBP

EUR/GBP has been declining since February 2021. It lost as much as 12,000 pips and is currently exerting pressure on a two-year low. This situation opens an opportunity to place a grid of buy limits in the market.

So, after the breakdown of 0.82744, place a grid of buy limits in an increment of 500-1,000 pips. Take profit after a breakout, either at 1 pip above the first order or after a 1,000 pip rise.

This strategy is called grid trading, which is usually used on cross rates. It involves holding positions that are significant in time and distance. For this reason, we recommend using swap-free accounts, not increasing the volumes in the grid (0.01 standard lot for every $ 1000 of the deposit) and monitor price movements.

Good luck and have a nice day!