Day trade
Trade view / 09 July 2015 at 6:13 GMT

EURGBP break on average signals further gains

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURGBP
Price target:
Market price:

The market continued Tuesday’s gains in EURGBP yesterday. The 13-day moving average that had held the previous three day's upside was powerfully broken and the cross traded to the highest levels for three weeks.

The scope of the gains from Monday’s low means that immediate signals for sentiment are overbought and a reaction is likely. Nonetheless momentum is supportive and the Relative Strength Indicators (RSI) are positive and so we look for gains to continue to develop.

Management and risk description

A move to .7225 brings the stop to break even


Entry: .7200/05 area and dip to .7182

Stop: .7152 offered

Target: .7225, .7236 or even .7252

Time horizon: Intraday today

 Testing average
 Testing Average
 Buying extends
 Buying Extends
 Long term
Long Term
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— Edited by Adam Courtenay

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Fels a bit of a binary based on outcome political process with Greece


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