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Trade idea: Sell EURGBP as rally stalls
Alan Collins from 3c Analysis is looking to sell euro sterling, the main reason being that the rally from October has stalled.
He also says that Tuesday's decline was the "most aggressive day" and is concerned we saw a full stall at the 13-day moving average. Alan is now looking for this selling pressure to continue.
The figures which he is expected to focus on are .8429 and .8400.
Meanwhile, new data showed that german analyst and investor sentiment rose unexpectedly in October.
The Mannheim-based ZEW economic think tank's monthly poll of economic sentiment rose to 52.8 in October from 49.6 in the previous month, its highest level since April 2010.
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00:57 minutes
Tags: 3c analysis, alan collins, british pound, economic sentiment, economy, eu, eur, euro, euro area, europe, european economy, gbp, german economy, german investor sentiment, investing, investment, investor, macro, mannheim, pound, profit, profit taking, saxo bank, saxo tv, sterling, think tank, trade idea, trading, tradingfloor.com, zew