Limited EURGBP setbacks keep the bias bullish
Highs and lows were rejected Wednesday as EURGBP continued to consolidate around the 200-day moving average. However, although a lack of net movement does reflect a degree of uncertainty, limited profit taking and the support of the 13-day and 200-day moving averages keeps our technical focus on the topside.
Management and risk description
A move to 0.8836 means the stop can be raised to break even.
Entry: Buy in 0.8810/15 area and at 0.8798
Stop: 0.8776 offered
Target: 0.8836, 0.8861 and 0.8887
Time horizon: intraday, closing 16.00 BST
— Edited by Clare MacCarthy
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