EUR/GBP has rallied substantially over the past week as Brexit has returned as a theme in the market.
EUR/GBP is technically overbought and we see a high risk of a correction lower in connection with today's release of PMI service where we look for a positive surprise compared to consensus forecast.
We close the position for tactical reasons and book a profit of 5.39%.
Fundamentally, we remain bullish on EUR/GBP and we will look for opportunities to buy EUR/GBP in the event of a correction lower.