Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

EUR/GBP Front Running Subsidy Payment

Published 27/09/2016, 06:59

EUR/GBP has had a good run since bottoming out at 0.8333 on September 6. At the time of writing, the cross was trading just below 0.87 handle and is dangerously close to the cyclical high of 0.8725 (Aug 16 high).

Brenda Kelly, Independent Market Strategist, believes the EUR/GBP cross is front running the farm subsidy. The subsidy is due on the 1st October but is usually executed on the last day of September. Kelly thus sees a possibility of the pair revisiting 0.86-.85 levels. ‘Daily RSI is conveying a slightly bearish move”, she adds.

When quipped about Sterling, Kelly replies, “there is still a possibility of a short squeeze. Cable could revisit 1.3120”. While talking about USD/JPY, Brenda cites post Brexit low as the line in the sand. Kelly is joined by Tip TV’s Nick Batsford and Zak Mir.

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.