INSTITUTIONAL TRADE: Long EURGBP - Nomura

4/21/2020 08:06:00 AM
Nomura has gone long EURGBP

Details:

Entry: 0.8701
Target: 0.90
Stop Loss: 0.8500

Reason:

The UK government is still waiting to continue negotiations with the EU and has doubled that deadline by not extending it by the end of this year. Until now, it seems political sensation that the UK will eventually extend the infection due to the virus.
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Technically, Head & Shoulder pattern happened after create 3 Impulsive Wave and at this moment price momentum has been stalling at 0.8700 level. Also it's broken minor channel. If all going good with UK and EUR, upside looking promising.
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