All Articles Tagged - EURGBP

Technical Analysis – EURGBP tests key resistance at 50-day moving average

Posted on February 17, 2017 at 9:17 am GMT

EURGBP has been neutral since mid-January and pivoting around the 50-day moving average and trading between 0.8455 and 0.8650. In the past week, the pair has been capped at the 50-day moving average, which is providing resistance at 0.8540. This is giving a bearish bias in the near-term, as long as the market remains below this resistance level. RSI is below 50, indicating further downside in EURGBP is possible. MACD is below zero, also giving a bearish signal. Given this, a deeper fall [..]

FX Daily Outlook | 10-02-17

Posted on February 10, 2017 at 9:42 am GMT

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Technical Analysis – EURGBP near-term bearish with the strength of the signal under question

Posted on February 10, 2017 at 8:27 am GMT

EURGBP is currently up but little changed relative to yesterday’s close. The short-term sentiment given by the RSI is negative as the indicator is currently at 46, below the 50 mark distinguishing positive from negative short-term bias. Adding to this, the MACD is slightly negative and below the red signal line. The fact that RSI and MACD are relatively close to 50 and 0 respectively is perhaps indicative that the bearish sentiment is not that strong and that mostly sideways [..]

Technical Analysis – EURGBP neutral in the near- and medium-term

Posted on February 3, 2017 at 8:08 am GMT

EURGBP has been posting gains for the second day in a row, though it is currently mostly unchanged from the previous day’s close. Yesterday it rose by slightly more than 0.9%. The RSI indicator is currently at 52, in close proximity to the 50 neutral level that distinguishes positive from negative short-term market sentiment. The stochastics are painting a neutral short-term picture as well, since the %K line is in neutral area while it is converging with the slow %D [..]

European session – Strong manufacturing data out of the US, Eurozone and the UK

Posted on February 1, 2017 at 3:55 pm GMT

Today saw the release of the final manufacturing purchasing managers index (PMI) data for the month of January for the US, UK, and the Eurozone. The figures were well above the 50 mark separating expansion from contraction in the sector for all economies involved. First out was the Eurozone manufacturing PMI. The figure came in at 55.20, slightly higher than the expected 55.10 and December’s 54.90. January’s manufacturing PMI number was the highest in almost six years indicating that factories [..]

Forex News – Eurozone growth and inflation accelerate, putting pressure on ECB

Posted on January 31, 2017 at 2:03 pm GMT

Inflation, unemployment and GDP figures out of the Eurozone today pointed to an improving economic picture across the region, fuelling speculation that the European Central Bank could start reining in its asset purchases sooner than expected. Euro area inflation jumped to a 4-year high in January, according to Eurostat’s flash estimate for the month. Annual CPI rose from 1.1% year-on-year in December to 1.8% in January, beating estimates of 1.6%. The increase in the headline rate was mainly driven by [..]

Technical Analysis – EURGBP short-term bearish with the stochastics at oversold levels

Posted on January 26, 2017 at 11:01 am GMT

EURGBP has been on a downtrend since January 17 and hit a three-week low of 0.8470 today. The RSI indicator is in bearish territory at 42, indicating negative market bias over the short-term. The stochastics reinforce the negative short-term view as the %K line is at bearish levels as well, while it has been below the slow %D line throughout this period of downward movement. Bear in mind though that %K is also below the 20 mark, indicating oversold levels. [..]

FX Daily Outlook | 26-01-17

Posted on January 26, 2017 at 10:23 am GMT

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Asian session – Dollar index stays below 100 while pound rallies to 6-week highs

Posted on January 26, 2017 at 8:41 am GMT

The US dollar remained under pressure because of various protectionist initiatives by the new US administration, while the pound rallied to 6-week highs on optimism of a quick trade deal between the UK and the US, as well as progress on triggering Article 50. Despite a rising US stock market as well as higher US Treasury yields, the dollar was unable to make headway as foreign investors were wary of Trump’s protectionist policies, according to analysts. The new president authorized [..]

European session – Sterling up after May agrees Brexit white paper; Dollar hits 7-week low

Posted on January 25, 2017 at 3:55 pm GMT

UK Prime Minister Theresa May said on Wednesday that she plans on producing a policy document (a so called ‘white paper’) for parliament outlining her proposals on how the Brexit process should take place. The news helped push sterling higher as it hit a near 6-week high against the dollar and a near 3-week high against the euro. In afternoon European session GBP / USD was last at 1.2563 (up 0.34%) and EUR / GBP at 0.8535 (down four-tenths of a [..]

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