I am an old GBP/DEM warhorse from eons ago and this pair holds a special place in my heart. Watching the 270 pip range on Monday in EUR/GBP (which is the equivalent of nearly 800 pips in GBP/DEM) certainly brought back a lot of memories.
I know Kyle has been bearish on this pair in recent days but my experience has been that when this pair starts moving, you can through your technical handbook out the window and trade off the seat of your pants.
My call is that the pair will rally some more in the short term and if the 91 and 92 handles can be reclaimed by bulls, a move towards 94.00 is possible. There I would take a big punt and go short at the 61.8% retracement and the down trend line which are both around 94.20.
