SaxoTV

Collins: Shorting EURGBP after rejection of highs

269 views
February 03, 2016 GBPg, bonds, eur, eur usd, eurgbp, eurjpy, euro, euro area, euro crisis, euro dollar, euro rates, euro strength, euro zone, eurocrisis, eurodebt, eurodollar, europa, europe, europe growth, european, european banks, european central bank, european economy, european recovery, european union, eurozone, eurozone crisis, eurozone economy, eurozone recovery, eurusd, foprex, for, forecast, foreign exchange, foreign exchange market, foreign exchange strategy, foreignexchange, forex, forex 2014, forex 2014 outlook, forex 2015, forex 2015 outlook, forex and more, forex aud, forex audusd, forex audusd short, forex buying, forex eurjpy, forex eurusd, forex exchange, forex gbpusd, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex selling, forex strategy, forex trade idea, forex trade ideas, forex trading, forex trading 2014, forex trading 2015, forextrading, forward guidance, fx, fx markets, fx strategy, fx strategyf, fx trade, fx trading, gb, gb group, gbgbgb, gbp, gbp eur, gbp falling, gbp trading, gbp trading 2014, gbp trading 2015, gbp usd, gbp usdg, gbp weakening, gbpchf, gbpchf november 2008, gbpeur, gbpeur 2014, gbpjpy, gbpusd, gbpusd 1.7, gbpusd 1.70, gbpusd 2008 october high, gbpusd 2014, gbpusd five year high, gbpusd labour day, gbpusd oct 2008 high, gbpusd record high, gbpusd trade idea, gold, saxo tv, tradingfloor.com, xau
Alan Collins is shorting EURGBP after what he calls a "powerful" rejection of the 12 month highs at 0.7700; "the whole week’s price action saw the cross platformed by the 13 day moving average, a point that had held the downside since the beginning of December." says Alan.

With the Keltner channel going from flat to small Bearish Alan believes the upside rejection emphasises a new negative tone. 
Targets: 0.7540 & 0.7516
Sellers attracted at 0.7605
Stop: 0.7628