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EUR/GBP: Big two-way action

By   || September 2, 2010 at 01:07 GMT
|| 2 comments || Add comment

AS Gerry reported overnight, some of the big Middle-Eastern players were very active buyers in EUR/GBP yesterday. The break above .8280 also encouraged some technical buyers to enter the market, both on a stop-loss basis and also initiating fresh longs.

A friend of mine who sees a lot of the bigger interbank flows and orders suggests to me that selling the rally may prove to be an excellent risk-reward trade. He suggests waiting until .8350/.8400 and if the market stalls there for a session or two, then sell with a reasonably tight stop looking for a test of .8000.

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Category: All, Asia
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2 Responses to “EUR/GBP: Big two-way action”

  1. SK on September 2nd, 2010 01:18 GMT

    HI SEAN, SHOULD I GO LONG ON US/EURO AT THE MOMENT??

  2. David Horton on September 2nd, 2010 01:46 GMT

    SK I can’t recommend what you you should or shouldn’t do; we probably think it’s a range trade for the moment as per Sean’s post earlier ( 8 posts from the top). ForexLive is a site where we post info and ideas that we believe to be fair comment in our opinion and reporting what we believe to be correct from very good sources. Readers can take that (and consider it (or not) ) in the spirit the information/comment is given.

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