Rangebound conditions in the EUR/USD and GBP/USD we have seen a small range developing for for both pairs without any follow through , rumors of a deal to help Greece have put a hold on EUR bears . We may see this range continue until Thursdays Monetary Policy meetings in in The EU and England. For the time being I am going to ignore buy and sell signals until I can determine some kind of directions for the market. These are the times that determine whether traders are profitable or not it is very easy to get frustrated and take trades inside this range and run a high probabilty of eating up an account in the chop. So be patient and wait for a clear direction to form, there is always another trade tomorrow.
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