Squawk / 24 May 2016 at 5:48 GMT
Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
EURGBP - Weak Recovery emphasises underlying negative sentiment
Initial trading yesterday was volatile but there was limited net movement on the day. EURGBP was bought at higher levels for a 2nd day in a row but the extent of the upside was contained by last Wednesday’s Marabuzo line. It is that factor, coupled with a decline Keltner channel (and 13 day line) that keeps our focus, for today, on the downside.
Scope to .7716, .7704 and .7686.
Any move to .7757 should attract sellers but only above .7783 is positive
24 May
AlanCollins AlanCollins
Our bearish forecast is being confirmed by early selling. But with volatility a concern we suggest reducing exposure at current prices rather than .7716 with a stop now lowered to .7754.


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