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Coleman: Why I'm shorting EURGBP

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Ian Coleman, from First 4 Trading, explains why he's shorting EURGBP which traded to the highest level in 20 weeks on Wednesday. But the trend of higher weekly highs capped buying at 0.7436.

In Intraday, Coleman explains that the wedge formation was broken to the downside. So his intraday call is to sell at market and stop at 0.7410 with a target level of 0.7310.

He is then looking for a bounce to sell into next week at around 0.7385 with a stop at 0.7435 and a target of 0.7125.