Sentiment remains positive for EURGBP
My trade Idea yesterday was long EURGBP and that proved correct as the cross moved to new three-year highs. An initial modest dip again found fresh buying interest, on the back of sterling weakness, with the latest gains yielding new three-year highs and tracking the upper band of a rising Keltner channel. Signals for sentiment continue to be overbought, especially after Asia's move to the highest levels since 2011 but setbacks remain limited.
Management and risk description
A move to 0.8833 means the stop can be raised to break even.
Entry: buy a dip to 0.8790.
Stop: 0.8762 offered.
Target: 0.8833 and 0.8847.
Time horizon: intraday, ends 4pm London time.
– Edited by Gayle Bryant