EURGBP tracking Keltner channel higher



Yesterday’s positive bias for sentiment proved correct as a sharp move lower found fresh buyers comfortably above the 13-day moving average. The resulting bounce was an aggressive one and took EURGBP to the highest levels traded since October and maintained a “hugging” of the upper band of a rising Keltner channel. 

Intraday signals for sentiment are at overbought extremes and an early reaction may be seen. But with the underlying tone clear we continue to look for this cross to track the Keltner channel higher.

Management and risk description

A move to 0.9155 means the stop can be raised to break even.


Entry: buy in 0.9120/23 area and at 0.9109.

Stop: 0.9084 offered.

Target: 0.9143, 0.9155 and 0.9174.

Time horizon: intraday, ending 1500 GMT.

Positive channel


Setback bought


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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