EUR/GBP Set to Tumble

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We have some positive news from the UK where Boris Johnson is set to return back to Downing Street on Monday after having been successfully cured of his virus Infection. As his ministers took over in the meantime no further discussions have been made on when to lift the lockdown.

The pound might get stronger overtime when the economy eventually is reopened and as COVID-19 cases in the UK begin to steady. We would like to play this on a longer-term trade of the weekly chart. We like to sell the break of support at 0.8675 with SL at 0.8860 and TP at 0.8515.

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