Short EURO / Long GBP as team GB starts to benefit from a positive post Brexit narrative. Eur sentiment soured with mishandling of Northern Ireland border and proposed vaccine restrictions. A Sign of things to come? Meanwhile, relative to Europe and America, GB leads the way in vaccination programs and efficacy is starting to show in the data. Trans Pacific Trade group application and the prospect of 100's or 1000's wealthy Hong Kong citizens is well received.
From a TA perspective we look set to test to test the lower end of the post referendum range @ 0.83.
From a TA perspective we look set to test to test the lower end of the post referendum range @ 0.83.
Comment:
Adding to shorts on break of 0.85, 0.82-83 area first target area but there is potential to see 0.70 by year end.