EUR/GBP: Near-Term Dips A Tactical Buy – TD

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The “Brexit cross” has been looking for a new direction amid the Conservative contest and worries about Europe. What’s next?

Here is their view, courtesy of eFXdata:

TD Research discusses EUR/GBP outlook and adopts a buy-on-dips strategy.

“The UK’s macro backdrop remains mixed and volatile, but some MPC members have broadcast a fairly hawkish message to investors this week. These voices may grow more vocal if growth rebounds. Strategically, sterling still has some difficult days ahead of it as political concerns dominate,” TD notes.

Tactically, however, we think EURGBP may struggle to push much higher without a near-term pullback. That would, we think, provide a dip to buy, however,” TD adds.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.