Watch out as EURGBP net short positioning is reversing quickly
Leveraged money net positioning is reversing from extreme short levels in EURGBP futures.
We do acknowledge the UK's recent positive political momentum amid political turbulence in the EU, however we believe the effect is in the price.
On top of that, our fundamental macro model is slightly bullish EURGBP, certainly not indicating a further drop from these levels.
This might indicate a rally in EURGBP towards 0.86 after a recent 2 standard deviation selloff.
We do acknowledge the UK's recent positive political momentum amid political turbulence in the EU, however we believe the effect is in the price.
On top of that, our fundamental macro model is slightly bullish EURGBP, certainly not indicating a further drop from these levels.
This might indicate a rally in EURGBP towards 0.86 after a recent 2 standard deviation selloff.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.