Societe Generale FX Strategy Research notes that EUR/USD correction did nothing to provide cheaper levels to buy yet and as such SocGen prefers playing GBP/USD at current levels.
“If you think EUR/USD has further correction to go, short GBP/USD looks good,” SocGen advises.
“USD/JPY is the Bellwether for that we’d like the base of the upward trend we’ve been in since May, at 109.40, to hold.
We’d also like EUR/USD to hold 1.16 and avoid threatening the foundations of the EUR/USD and EUR/JPY rally.
Source: Societe Generale Cross Asset Research
The article is published by one of the foremost sources of Forex trading information. Link to the original article above.
from Online Forex Trading Resource
View thesource article here