The EUR/GBP is breaking a confluence of a 61.8% retracement of the 2012 low to 2013 high, and also a weekly trend line from the last 7 years. Fundamentally, the trade makes sense as the ECB may be proactive to ease monetary policy the next month, and the BOE is expected to raise rates sometime next year.
Blake Morrow
Chief Currency Strategist, Wizetrade
Disclaimer: I am short the EUR/GBP near current levels.
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