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Instrument: EURGBP
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.37566 with a take profit at price 1.37749.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.37003 with a take profit at price 1.36761.
Fundamentals:
No major fundamental
Comment: The Pound has come under notable pressure in recent sessions with last week seeing the currency post its worst week against the USD since December and September against the Euro. A factor behind the recent weakness had stemmed from the short squeeze in EUR/GBP. However, with the move looking to have taken its full course having failed to break the 0.87 handle, GBP may find a bit of stability going forward.
Analysis: SCRUM Team
