Raising Stop Loss Of Long EUR/GBP To 0.8840

Published 11/03/2017, 08:46 AM
EUR/GBP
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On 1 November 2017 we recommended to buy EUR/GBP spot, with a target of 0.90 and stop loss at 0.8625. See Danske Bank FX Trading Portfolio: Buy EUR/GBP for details.

As such, we still expect relative rates, growth and Brexit uncertainty to be EUR/GBP positive near term. However, following the strong rally yesterday on the back of the dovish BoE rate hike, we think it is likely that the cross could consolidate around the 0.89 figure in coming days, and we thus increase the stop loss to 0.8840 to lock in some of the profit already gained.

To read the entire report Please click on the pdf File Below:

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