We like this trade and will continue to hold it as we see it as a good hedge against uncertain economic fluctuations between the FED and ECB going back and forth about QE, Rates, and so forth. While there have been many surprises, we think that regardless of the Euro unraveling it's recent rally, we would still feel the EURGBP would move up, and in the event the Euro does not unravel and continues higher against the dollar, we still see the EURGBP as moving up. Therefore, this is an overall good technical and fundamental position for the time being.
This entry has not triggered and is one of the 3 positions we tried to scale into this EURGBP long idea. Our other 2 positions triggered long, and we currently feel that our targets will be reached before we can get this 3rd, and lowest tiered entry.