EURGBP sentiment turns negative
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
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