EURGBP: profit taking

I entered long on the break above the 0.8400 resistance however the upmove was fast and the first pullback came just 50 pips above the breakout level. The buy signal was a 4h bullish pin with an inside cluster following it. There was not much drawdown after I was in position therefore it was not too challenging to hold the long position. After the FED comments following the FOMC meeting the Euro had another good run which was extended into the next European session. I have decided to book the profit as the tactical decision timeframe (30m) was showing decreasing volatility just below the 0.8603 confluential level. Realized profit was over 2 time R-multiple.


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