Trade for the coming week
Mitsubishi UFG suggests selling EUR/GBP in its weekly FX pick.
The pair suggests selling it from spot at 0.8520 with a target of 0.8350 and a stop at 0.8670.
“We are recommending a short EUR/GBP trade idea to reflect building confidence in our bullish outlook for GBP,” they write. “We have been encouraged by recent positive covid data from the Uk suggesting that the risk of further pandemic-related disruption to the UK economic recovery has diminished.”
This article was originally published by Forexlive.com. Read the original article here.