EURGBP - We look to Sell at 0.8400 (stop at 0.8425)

EURGBP - Price action continues to be mixed and volatile for 10 days in succession resulting in spikes in both directions. Price action continued to range between key support & resistance (0.8300 - 0.8425) although we expect a break of this range soon. An Evening Star formation has been posted at the high. The trend of lower highs is located at 0.8413. There is scope for mild buying at the open but gains should be limited. Preferred trade is to sell into rallies. Our profit targets will be 0.8340 and 0.8310.

EURGBP

Risk Warning

Trading spot foreign exchange and futures on margin carries a high level of risk and may not be suitable for all investors. You may lose all your capital. Losses can exceed deposits. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. If you are in any doubt about investment or the mechanics of such products, you should seek independent financial advice.

If you purchase a commodity option, your capital is at risk and you may sustain a total loss of the premium and all of the transaction cost.

If you purchase or sell a commodity future or sell a commodity option, your capital is at risk and you may sustain a total loss of the initial margin funds and any additional funds that you deposit with your broker to establish or maintain your position.

If the market moves against your position, your capital is at risk and you may be called upon by your broker to deposit a substantial amount of additional margin funds, on short notice, in order to maintain your position.

If you do not provide the required funds within the prescribed time, your position may be liquidated at a loss, and you will be liable for any resulting deficit in your account.

During certain market conditions, you may find it difficult or impossible to liquidate a trading position. This can occur, for example, when the market makes a "limit move". The placement of contingent orders by you or your trading advisor, such as a "stop-loss" or "stop-limit" order, will not necessarily limit your losses to the intended amount, since the market conditions may make it impossible to execute such orders.

The high degree of leverage that is obtainable through for example futures trading, options trading, Spread Betting, Binary Betting and CFD trading can work against you as well as for you. The use of leverage can lead to large losses as well as gains. This brief statement cannot disclose all the risks and other significant aspects of the commodity markets, including trading shares, currencies, and stock indices. You should therefore carefully study financial trading before you enter the financial markets with the view of buying and selling, including shorting, securities in the market place.

Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with spot foreign exchange and futures trading, and seek advice from an independent financial advisor (IFA) if you have any doubts. All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect the truth. Please use your own good judgment and seek advice from a qualified consultant or IFA, before believing and accepting any information posted on this website.

Your capital is at risk.

Losses can exceed deposits

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD holds above 1.0700 ahead of US jobs report

EUR/USD holds above 1.0700 ahead of US jobs report

EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.

EUR/USD News

GBP/USD advances to 1.2550, all eyes on US NFP data

GBP/USD advances to 1.2550, all eyes on US NFP data

The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.

GBP/USD News

Gold remains stuck near $2,300 ahead of US NFP

Gold remains stuck near $2,300 ahead of US NFP

Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.

Gold News

XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion

XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion

Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness. 

Read more

US NFP Forecast: Nonfarm Payrolls gains expected to cool in April

US NFP Forecast: Nonfarm Payrolls gains expected to cool in April

The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.

Read more

Majors

Cryptocurrencies

Signatures