Today’s EUR/GBP signal
risk 0.75%
Trade may be entered at any time.
Trade 1 – Long
• buy pair at current levels.
• Stop loss is just below 0.87
• target is 0.90
• move stop loss to breakeven once trade is 50 pips in profit
EUR/GBP Analysis
The EUR/GBP pair has been banging against the 0.87 level time and time again, and finally broke down 24 hours ago. Because of this, it looks as if the Euro will continue to gain against the Pound. This is more about the vote to exit the European Union than anything else, and the fact that the Prime Minister of the United Kingdom very well could announce a triggering of Article 50 today. With this, he pulled back at this point in time will probably continue to attract buyers.
We do get UK Services PMI today, but quite frankly it will be the Prime Minister’s speech that will grab all of the headlines.
