EURGBP, Buy at .8895 and .8884 (stop .8863), Friday

Long

Euro / British Pound (FX:EURGBP)

Updated

FX:EURGBP Euro / British Pound

trendline candlestick movingaverage eurgbp eurgbplong

Yesterday's bullish call, after a break of a key mvg avg area, was justified as a 2nd up day in a row was posted. An intraday setback found fresh demand below the 100 day line with the resulting demand taking EURGBP through .8900. Intraday signals for sentiment are overbought and a reaction is likely. Nonetheless, sentiment is bullish and this morning’s call is a Buy at .8895 but leaving room to also buy a .8884 dip. The risk is .8863, yesterday's open, with upside targets of .8920/26, this year’s highs, .8938 and .8962.

Trade active:

Confirming today’s call EURGBP has been bought to our .8920 target. The next focus is .8938 with a stop raised to .8893 (buy dip cancelled)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.