Day trade
Trade view / 04 October 2016 at 5:56 GMT

EURGBP moving up with the Keltner channel

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

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

Marabuzo line
Marabuzo Line
 Gradual gains
Gradual Gains
 Long term
Long Term
Source: All charts from CQG

— Edited by Adam Courtenay

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Non-independent investment research disclaimer applies. Read more

AlanCollins AlanCollins
Has traded close to our .8748 target but we now suggest taking some profits at .8740 instead with a stop at .8708.


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