Bearish directional bias on daily only, make this a higher risk set up due to lack of multiple time frame directional bias, so this won't be full position size.
Weekly - fresh bearish DB
Monthly -Break and close below monthly trend line would signal more bearish momentum
Current driver is euro weakness on vaccination program in Europe falling short compared to UK, USA, Canada and Australia. Pound strength is being driven by the fast UK vaccine rollout.
Any change in the vaccine narrative for EUR could put this trade in trouble.
Weekly - fresh bearish DB
Monthly -Break and close below monthly trend line would signal more bearish momentum
Current driver is euro weakness on vaccination program in Europe falling short compared to UK, USA, Canada and Australia. Pound strength is being driven by the fast UK vaccine rollout.
Any change in the vaccine narrative for EUR could put this trade in trouble.