Asian demand confirms positive tone for EURGBP
There was limited movement in EURGBP for a second day in a row Monday, despite the most positive levels traded for four weeks being posted. But prices still consolidated comfortably above the key 13 day moving average.
This type of price action means immediate signals for sentiment cannot be strong, but demand in Asia has emphasised the underlying positive tone, as well as confirming our bullish weekly call published yesterday on these pages.
Management and risk description
A move to 0.8549 means the stop can be raised to breakeven.
Entry: Buy in 0.8525/0.82530 area and any dip to 0.8502.
Stop: 0.8469 offered.
Target: 0.8549 and 0.8568.
Time horizon: Intraday, ending 1600 London time (1500 GMT).
— Edited by Robert Ryan
Non-independent investment research disclaimer applies. Read more