Day trade
Trade view / 03 August 2016 at 5:54 GMT

EURGBP sentiment turns negative

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

A sequence of three days of EURUSD rising ended yesterday as the break of the July 12 Marabuzo line proved temporary and limited.

The resulting decline, from three-week highs, took EURGBP back to the Marabuzo line and the 13 Day Moving Average.

A lack of follow through in either direction means immediate signals for sentiment cannot be strong and the signals continue negative into this morning's session.

Management and risk description

A move to 0.8395 means the stop can be lowered to break even or better.


Entry: Sell in 0.8415/20 area and any 0.8437 rally

Stop: 0.8466 bid

Target: 0.8395, 0.8380 or even 0.8365

Time horizon: Intraday, ending London 4pm

Sequence ended
Sequence Ended
Off the highs
Off the Highs

 Long term
Long Term
Source: All charts, CQG

— Edited by Adam Courtenay

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Non-independent investment research disclaimer applies. Read more
AlanCollins AlanCollins
Reaches target, stop should be break even


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