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Euro Cross Pick 07.28.10

Euro Cross Pick 07.28.10

2010-07-28 13:41:00
David Song, Currency Strategist
Share:

As the EUR/GBP holds below the 20-Day SMA at 0.8366, the pair looks poised to retrace the advance from the end of June, and I will look to short the pair on a break below 0.8300 as the British Pound continues to outperform against its European counterpart. As a result, I have placed a short entry at 0.8295, the 7/5 high, and will target the July low at 0.8166, with the stop at 0.8354, the 50-Day SMA.

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