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13 Apr 2015
EUR/GBP remains a sell on up-ticks – KBC
FXStreet (Barcelona) - The long term sterling bull run still holds intact, views the Team at KBC Bank, as they suggest maintaining a sell-on spikes approach for EUR/GBP towards 0.74 levels.
Key Quotes
“The UK calendar is empty today, but contains CPI & PPI data on Tuesday and the labour data on Friday. So a pretty thin calendar. Also in EMU, the calendar is uneventful today and quite thin further out. Of course the ECB meeting on Wednesday may be important.”
“Ahead of the UK elections we take a wait-and-see stance, while keeping a bullish long term view.”
“Currently the pair is struggling with key EUR/GBP support at 0.7222. We don’t anticipate a break, even as the euro is very weak. However, we see recently more action in cable that tested Friday the cycle low at 1.4635 and overnight tries to break it.”
“Dollar strength combined with UK election jitters make sterling a bit vulnerable short term. Some sterling support may come from the near oversold character of cable.”
“A sell on up-ticks in EUR/GBP close to 0.74 is our preferred tactic. A break below 0.7222 opens the way to the cycle lows where (rebound) reaction should occur. The long term sterling bull run still stands.”
Key Quotes
“The UK calendar is empty today, but contains CPI & PPI data on Tuesday and the labour data on Friday. So a pretty thin calendar. Also in EMU, the calendar is uneventful today and quite thin further out. Of course the ECB meeting on Wednesday may be important.”
“Ahead of the UK elections we take a wait-and-see stance, while keeping a bullish long term view.”
“Currently the pair is struggling with key EUR/GBP support at 0.7222. We don’t anticipate a break, even as the euro is very weak. However, we see recently more action in cable that tested Friday the cycle low at 1.4635 and overnight tries to break it.”
“Dollar strength combined with UK election jitters make sterling a bit vulnerable short term. Some sterling support may come from the near oversold character of cable.”
“A sell on up-ticks in EUR/GBP close to 0.74 is our preferred tactic. A break below 0.7222 opens the way to the cycle lows where (rebound) reaction should occur. The long term sterling bull run still stands.”