EURGBP – Rally overturned, sentiment bearish
In line with this week's bearish bias for sentiment, Monday saw fresh selling interest reject Friday’s downside rejection. This renewed decline to 11-month lows kept EURGBP tracking the lower end of a falling daily Keltner channel. This price action, and a close near the lows, keeps the technical focus on the downside tracking the Keltner channel lower.
Management and risk description
A move to 0.8614 means the stop can be lowered to break even.
Entry: Sell in 0.8638/43 area and at 0.8654
Stop: 0.8673 bid
Target: .08614, 0.8591 or even 0.8565
Time horizon: intraday, closing 16:00 BST
— Edited by Clare MacCarthy
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