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The EUR/GBP pair managed to do very little during the session on Monday as we tread water just above the 0.79 handle. In fact, that level is one of the most important ones on this chart as far as we can tell right now. If we manage to break below it on a daily close, we are more than willing to sell as the trend would continue downward from that point.
As for buying this market, we see far too much noise all the way to the 0.81 handle, and as such are really looking to do so. Even if the Euro continues to gain on the Pound, we simply no of easier trades stand going long of this market. Because of this, we are looking for our sell signal and nothing else.