FXWW News/GBP crosses/Technical Analysis/Trade Ideas

EUR/GBP: Breaks below recent daily lows

But there is more technical support at .8465/70 (see chart). I’m still running a small short position here and am looking for any signs of a medium-term breakdown before adding to risk.

  1. Sean

    Have you not mentioned in the past to fade any GBP moves in the Asian session ? Do you think this move is different because of the Vodafone deal?

  2. Very fair point PK, and from s/t perspective it makes sense to fade this GBP move. I doubt very much if a big GBP bull move suddenly starts now but I’m also convinced that it will start sometime.

  3. In the pound I have marked goals on the daily chart: 1.5624, 1.5822 (I think, as the most serious place and go above will not just), but if you are 1.5822, then I have the following objectives: 1.6118 and 1.6315. Pound keep in shopping and buy the fall of the pair GBP/USD.

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