We are short on EURGBP @ .8510. Pair broke .8450 support yesterday and daily candle closed with a bearish bais. We expect a bounce due to GBP CPI figures which turn out very slightly below market expectation. We setup a pending entry order @.8510 which got triggered inline with our expectations.
Initial Target is .8431, once met stop-loss will be moved to breakeven.
Inflation has hit highest in UK since July 2014 and we expect sterling to put some gains.
Furthermore, we expect carry currencies like Yen and EUR to weaken further as commodities and stocks are gaining.
Initial Target is .8431, once met stop-loss will be moved to breakeven.
Inflation has hit highest in UK since July 2014 and we expect sterling to put some gains.
Furthermore, we expect carry currencies like Yen and EUR to weaken further as commodities and stocks are gaining.
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