[B]My picks:[/B] Range Trade EUR/GBP
[B]Expertise:[/B] Fundamentals and Technicals
[B]Average Time Frame of Trades:[/B] 2 - 10 Days
The EUR/GBP filled my target at 0.8810, the 3/2 low, last week and I have placed another short entry at 0.9064, the 50-Day SMA, as pair continues to trade within a tight range. Over the week, we may see the euro-pound work its way towards 0.9084, the 4/24 high, to test for resistance however, as the first-quarter GDP reading for the Euro-Zone is likely to reinforce a weakening outlook for growth and inflation, fears of a deepening downturn is likely to weigh on the exchange rate over the near-term. As a result, I will attempt to short the pair again, with my target at 0.8810, the March low, and the stop at 0.9098, the 100-Day SMA.
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