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Long

EUR/GBP - a good short-term buy

FX:EURGBP   Euro Fx/British Pound
391 0 5
EUR/GBP             fell to three-month low of 0.70227 after Paris terror strikes, but the pair was rejected at lows, has edged above the trend-line support at 0.7040 and is currently trading at 0.7067

Hanging man formation seen on daily charts , confirms uptrend, daily Stochs are at oversold levels, waiting for some unwinding to happen, close above 0.7040 will buoy bulls

In the day ahead, the cross will be influenced by the sentiment on the European markets and the Euro             zone final CPI             figures due out later this session

We reiterate our recommendation to go long on dips around 0.7040/50, SL: 0.6980, TP1: 0.7100, TP2: 0.7145

Bullish invalidation only on breaks below 0.6925
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