I am going long EURGBP at 86.00 with a stop loss at 85.20 and a target of 88.60 using 2% of capital.
I have already articulated in both the latest chart packs that we are seeing pressure on USD and US10Y. This is a good example for us to use to highlight the slightly more cautious tone in GBP.
This selloff looks like it has run out of steam around 0.853x and should begin accelerating towards 2021 highs at 0.922x once we break the channel resistance ahead.