Day trade
/
Sell
Trade view / 17 April 2018 at 7:05 GMT

EURGBP – Rally overturned, sentiment bearish

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Price target: .8591
Market price: .8640
Background

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.

Parameters

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

Averages Cap
Averages Cap
 Strong Decline
Strong Decline
 
Long Term
Long Term
 All charts from CQG

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
17 April
alki alki
Good morning Alan. You're still here, avoided The Purge :-)
17 April
alki alki
Quite risky trade for the moment. UK 1st tier numbers coming up in 1 hr.
17 April
Alan M Alan M
Pound is charging of late, would take a big miss in the data to send the eurgbp back up I think
17 April
AlanCollins AlanCollins
yes, could be a bumpy ride but like the pound curently - across the board. On a weekly perspective 1.4345 was our 2nd target - now aiming towards 1.4480.
17 April
alki alki
Appreciate your work, AlanC.
17 April
alki alki
Alan M - You re quite right; however i use to stay out during such announcements.
17 April
AlanCollins AlanCollins
Lack of momentum but lower levels. Looking to reduce below .8630 - stop down to .8651
17 April
JVKNL JVKNL
Thanks.again for.advise.
17 April
JVKNL JVKNL
Definitively you have more.idea than.i have ;)

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