There’s life in these markets yet. I have cautioned against getting too bearish on the FTSE and EURGBP in particular in recent days. Yesterday, my view was borne out, as both posted decent intraday gains. At the same time, GBPUSD tumbled further, also in line with my call. As such, I am reiterating my prediction of ongoing upside in the near-term, with an eye on new recovery highs for FTSE and EURGBP. I imagine DAX will get dragged up too, although I would sooner play the rally via the healthiest markets.
I seek longs today in FTSE and EURGBP and shorts in GBPUSD.
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