26 August 2016 at 6:50 GMT
Clive Lambert - FuturesTechs
Sterling recovery has been one of the main stories over what has been a pretty listless couple of weeks as many await Federal reserve chair Janet Yellen’s speech at Jackson Hole today, says Clive Lambert from FutureTechs.co.uk.
Lambert thinks that sterling recovery has further to run, playing it via a short in EURGBP where bearish divergences on momentum studies like RSI and MACD suggest a pullback.
Lambert is looking to sell EURGBP below 0.8560 with a stop above 0.8600. The targets are 0.8490, 0.8350 and 0.8300.