Forex Trading: EUR/GBP Reversal On Tap

RELATED QUOTES

SymbolPriceChange
EURGBP=X0.8534+0.001

With the EURGBP quickly bouncing back to the 0.8100 figure, we’re looking to sell the short-term rebound in the exchange rate, and we anticipate to see a short-term reversal in the exchange rate as it remains capped around 0.8140-50, the 78.6% Fib from 2008 low to the 2009 high. As the euro-pound continues to carve out a broader top around the key figure, the deviation in the policy outlook for the euro-area and the U.K. continues to instill a bearish forecast for the pair, and we should see the exchange rate resume the downward trend from earlier this as the European Central Bank (ECB) shows a greater willingness to lower the benchmark interest rate further.

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    NamePriceChange% Chg
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    1.5243+0.0047+0.31%
    EURSGD=X
    1.7862+0.0053+0.30%
    GBPSGD=X
    74.9770+0.295+0.40%
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