EUR GBP long 'relative fundamental' trade, based on the fairly 'hawkish' ECB and also today's and yesterday's 'soft' UK data. Entry 0.8712
The risk to the trade is the fact the stop loss is not behind a solid 'upswing of note'. But this is the only moment I have to potentially trade today and I think it's worth a go.
I do think a 'risk on' trade is also viable (which is also a risk if the GBP strengthens in a positive environment). But I've chosen to go with the 'freshness' of the UK data.
EUR GBP has a low ATR, the trade has a 10 pip stop loss and 15 pip profit target.
If it's ongoing, I will close the trade before end of day to avoid weekend risk.
The risk to the trade is the fact the stop loss is not behind a solid 'upswing of note'. But this is the only moment I have to potentially trade today and I think it's worth a go.
I do think a 'risk on' trade is also viable (which is also a risk if the GBP strengthens in a positive environment). But I've chosen to go with the 'freshness' of the UK data.
EUR GBP has a low ATR, the trade has a 10 pip stop loss and 15 pip profit target.
If it's ongoing, I will close the trade before end of day to avoid weekend risk.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.