EURGBP reveals negative break of averages


Background

Yesterday’s bearish bias was confirmed as EURBGP moved deeper below the 13 Day Moving Average, with selling pressure steady throughout the day.

With immediate studies being negative we are expecting any bounce to be temporary and for the downside to develop.

Management and risk description

A move through 0.8393 means the stop can be lowered to break even

Parameters

Entry: Sell in 0.8405/10 area and at 0.8432

Stop: 0.8453 bid

Target: 0.8393, 0.8374 or even 0.8352

Time horizon: Intraday, ending 15.00 GMT

Three days of declines

 
Steady overall decline

 Long-term

Source: All charts from CQG

— Edited by Adam Courtenay

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here

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EURGBP reveals negative break of averages

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