EURGBP moving up with the Keltner channel
A weaker sterling generally led EURGBP to a positive opening gap, from Friday’s close.
Further buying took the cross to the most positive levels traded for three years and back to the upper band of a rising daily Keltner channel.
The current setbacks based on overbought extremes are assessed as likely to be temporary and limited.
Management and risk description
A move to 0.8748 means the stop can be raised to break even.
Entry: Buy in at 0.8715/20 area and any 0.8702 dip.
Stop: 0.8676 offered
Target: 0.8748 and 0.8772
Time horizon: Intraday, ending 1600 London time
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