FXStreet (Barcelona) – The KBC Bank Research Team maintains a sell on upticks approach on EUR/GBP while the pair remains below 0.7483.
Key Quotes
“Until mid-May sterling remained in good shape even as expectations for a BoE rate hike are pushed back to 2016. A correction kicked in at the end of May.”
“EUR/GBP set a rebound top at 0.7386 at the end of last week. As EUR/GBP approached a first important resistance (0.7483) we reinstalled a cautious sell-on-upticks approach. We maintain this strategy, but are disappointed by yesterday’s price action. Stop-loss protection beyond 0.7483 is warranted.”
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