The Case for Shorting EUR / GBP

A short-term EURGBP opportunity appears to be forming, according to forex trader Dave T. The chart below illustrates the technical rationale for entering a short position at near the .8585 level.

click to enlarge



Fundamentally both the Pound and the Euro seem vulnerable. Forex trader Andrew Spanton discussed this in a recent podcast with David Waring; likewise, I've discussed pound weakness previously as well.

Disclosure: No position

Comments

[Westcoaster:]

Good idea. Could someone explain to me how Germany and Holland let the rest of loser Europe (economically) ride on their hard work?

Aug 11 07:53 PM