TD trade of the week: Buy EUR/GBP
Trade idea from TD
TD recommends buying EUR/GBP near current levels for a rally to 0.9200. They place a stop at 0.8890.
"We note EUR/GBP has broken above key resistance around 0.9025. We think the balance of risks favors further upside potential. With the UK among the last countries in the region to exit lockdown, we think the UK economy will suffer more of a drag in the weeks ahead. We expect the FX market to begin pricing this in with greater confidence. With a stop at 0.8890, we target a move to 0.9200 in our trade of the week." they write.