Barclays: sell EUR/USD and EUR/GBP
Weak German IFO Business Climate figure on Monday (106.3 in August versus 108.0 expected) indicated further downside risks to German growth," analysts at Barclays Capital say. That's why they recommend selling the euro versus USD and GBP.
Late last week Barclays Capital entered a short EUR/USD position from 1.3280 with a target of 1.2815 and a stop at 1.3438.
Chart. Weekly EUR/USD
The Bank holds a short EUR/GBP short from 0.8004 with a target of 0.7755 (the 2012 low) and a stop at 0.8040.
Chart. Weekly EUR/GBP