EURGBP – Marabuzo line platforms demand
Trading in EURGBP last week was broadly rangebound for a third consecutive week. Neither the week's lows nor highs were maintained and this lack of follow through means that signals for sentiment going into this week cannot be strong. Nonetheless, the background is dominated by Thursday’s post-Bank of England demand, a weekly Marabuzo line and the key 13-day moving average, with Friday’s reaction from the highs being assessed as temporary and weak.
Management and risk description
A move to 0.8529 means the stop can be raised to the entry point.
Entry: Buy in 0.8485/90 area and any dip to 0.8427
Stop: 0.8368 offered
Target: 0.8529, 0.8580 or even 0.8640.
Time horizon: this week, ending Friday 1200 GMT.
Non-independent investment research disclaimer applies. Read more