Day trade
Trade view / 05 October 2016 at 5:56 GMT

Sentiment remains positive for EURGBP

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

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.

Tracking channel
Tracking Channel
Steady gains
Steady Gains
Long term
Long Term
Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

– Edited by Gayle Bryant

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