Short EUR/GBP is the way to go

By FXstreet.com | July 02, 2014 AAA

FXStreet (Guatemala) - EUR/GBP is trading at 0.7960, down -0.21% on the day, having posted a daily high at 0.7983 and low at 0.7950.



EUR/GBP spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. “Short EUR/GBP has been a far more comfortable way of trading monetary policy and economic divergence than short EUR/USD”, explained Kit Juckes, Global Head of Currency Strategy at Societe Generale, “And this is also what drives GBP/USD higher. Indeed, we continue to look for further downside in EUR/GBP."



EUR/GBP Levels



Current price is 0.7960, with resistance ahead at 0.7963 (Daily Classic S1), 0.7966 (Hourly 20 EMA), 0.7973 (Yesterday's Low), 0.7977 (Daily Open) and (Monthly Low). Next support to the downside can be found at 0.7950 (Daily Low), 0.7949 (Daily Classic S2), 0.7947 (Weekly Classic S2), 0.7926 (Daily Classic S3) and 0.7918 (Weekly Classic S3).



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