The EUR/GBP trade has been entered, with significant moves to the downside expected.
The short EUR/GBP position was entered, and is moving towards its first target. Although the pair is trading near the entry point, mainly due to rumors of European bond purchases by China and Russia coupled with dovish commentary from the Bank of England, should these rumors amount to just that – rumors predicated on false pretences – the pair could drop quickly.
Regards,
Don
More on this topic
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EUR/GBP Technical Analysis for July 20, 2011
(Wall Street Sector Selector, 7/19/11)
Retail Trader Positioning 1st November – EURGBP switcheroo
(Phil’s Stock World, 10/31/11)
Why the Euro is Not a Good Short
(Gold Stocks Today, 8/30/11)
EUR/GBP Technical Analysis for the Week of July 18, 2011
(Wall Street Sector Selector, 7/15/11)

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