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My EURGBP short trade: Lambert
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Sterling recovery has been one of the main 'stories' of what’s been a pretty listless couple of weeks as many await Janet Yellen’s speech at Jackson Hole today, according to Clive Lambert from FutureTechs.co.uk.
He thinks that sterling recovery has further to run, playing it via a short in EURGBP where bearish divergences on momentum studies like RSI and MACD suggest a pullback.
Lambert is looking to sell EURGBP below 8560 with a stop above 8600. The targets are 8490, 8350 and 8300.