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.
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.
– Edited by Gayle Bryant
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