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Lambert: Why I am shorting EURGBP

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Clive Lambert from FuturesTechs is looking to short EURBGP after the pair has failed to go higher.

According to Lambert, EURGBP tried to climb at the end of last week and beginning of this, but as soon as it got above 7400 sellers would emerge. Wednesday saw a sell-off followed by several attempts at recovery on Thursday, which all were halted at around 7380, he adds. 

Lambert is therefore looking to sell EURGBP at 7350-7360 with a stop above 7380. His targets for the trade are 7290 and 7200.