EURGBP: bearish inverted Hammer points lower
Tuesday’s positive forecast was proved correct yesterday as the market built upon the previous day’s strong gains. Bought to higher levels for a fifth day in a row, EURGBP traded to the most positive prices for nine weeks.
Management and risk description
A move below 0.8657 means the stop can be lowered to break-even.
Entry: sell in 0.8685/90 area and 0.8698.
Stop: 0.8729 bid.
Target: 0.8657 and 0.8635.
Time horizon: intraday, ends 4pm London time.
Bearish inverted hammer
– Edited by Gayle Bryant