Failure at key average turns sentiment EURGBP negative
Last week's downside rejection extended to Monday. Gains of more than ¾ of a big figure took EURGBP to a test of the 100 day moving average. That level, and prices beyond 0.8900, held on a closing basis.
Our intraday technical signals for sentiment are left negative for a move back to retest the 13 day moving average.
Management and risk description
A move to 0.8875 means the stop can be lowered to break even.
Entry: Sell in 0.8905/10 area and at 0.8924.
Stop: 0.8943 bid.
Target: 0.8875, 0.8857 and 0.8843.
Time horizon: Intraday, closing 1600 GMT
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