EUR/GBP last 0.8742.- Now that GBP/USD (1.5855) is approaching trade trigger levels, and given my very finite capacity for taking on more long USD risk, the question is whether it makes sense for me to switch some of my short EUR/USD into short cable.
- EUR/GBP chart says no. Only switch if there are technical reasons to buy EUR/GBP. I can't find any at the moment.
- Monthly : Indeterminate. No trade here.
- Weekly : Looks still down although in reality probably 50-50 chart.
- Thus, happy to maintain short EUR as main exposure. Only take on fresh short GBP/USD if existing trades go a lot further my way that equity is increased to support the additional risk.
04 February 2010
EUR/GBP : No Mileage in Switching
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