All good things must come to an end. And there is a decent chance that the tremendous advance in the FTSE and in the Euro of recent weeks has come to an end, at least for the time being. The selling of the last couple of sessions has had some clear conviction behind it, especially in the single currency. However, I am not about to head for the hills straight away. I aim never to join a trend until it has been properly established, and the jury remains out on the possible new downtrend in these assets.

For now, then, I still reckon we could see a bullish turnaround, and am on guard to buy FTSE and EURGBP.

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