FX Daily Outlook | 12-10-16
Posted on October 12, 2016 at 9:41 am GMT[..]
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Technical Analysis – EURGBP consolidates after 7-year high of 0.9140
Posted on October 12, 2016 at 7:56 am GMTEURGBP recently broke the psychologically important 90 pence level during the previous Friday’s pound ‘flash crash’ but retreated back below that level when trading subsequently normalized. The levels reached during the ‘flash crash’ (0.9260) are best kept out of the analysis for now, as they do not reflect normal market conditions; they might be the result of very few trades and the nearly complete absence of bids. Euro / pound appears to be in an uptrend in the short-term but [..]
FX Daily Outlook| 04-08-16
Posted on August 4, 2016 at 8:39 am GMT[..]
Technical Analysis – EURGBP maintains neutral bias above 0.83, bullish above 200dma
Posted on August 4, 2016 at 7:18 am GMTEURGBP has been maintaining a neutral bias in the short term after the rally from 0.7600 to 0.8627 fizzled out. Prices have been pivoting around the 23.6% Fibonacci retracement level (0.8384) of this upleg from June 24 to July 6. Key support lies at the major 0.8300 psychological level and as long as this holds, then the neutral bias will continue. A break above the July 6 peak of 0.8627 would give further upside conviction for a resumption of the [..]
FX Daily Outlook|13-07-16
Posted on July 13, 2016 at 8:43 am GMT[..]
Technical Analysis – EURGBP reverses upside move to test key 0.83 support
Posted on July 13, 2016 at 7:03 am GMTEURGBP has been easing off the post-Brexit high of 0.8627, a near 3-year high. Prices have been steadily declining since then and are now testing a key psychological level at 0.83. This is an important support level which saw some congestion around this area right after the big move up following the Brexit vote. Upside momentum faded after the big rally and RSI reached overbought levels above 70. Consequently, the RSI indicator has turned back down, although still in bearish [..]
FX Daily Outlook| 23-06-16
Posted on June 23, 2016 at 12:21 pm GMT[..]
Technical Analysis – EURGBP neutral bias with downside risk
Posted on June 23, 2016 at 7:09 am GMTEURGBP has a neutral short term bias, capped below the key 0.80 level and is above the 50% Fibonacci retracement level of the November to April upleg from 0.6981 to 0.8116. This level lies at 0.7547 and acts as important support, which if broken, would shift the outlook from neutral to bearish. The next target down would be at 0.7414, the 61.8% Fibonacci retracement level. Upside momentum was lost after RSI fell below 50 into bearish territory last week, which [..]
Technical Analysis – EURGBP in descending channel, below 0.80
Posted on June 2, 2016 at 7:17 am GMTEURGBP appears to be on a downward trajectory. The pair has been in a descending channel during the past two months, falling from a high of 0.8116 and breaking below the key 0.80 level and below the 50-day and 100-day moving averages. This brings a shift to the recent bullish bias from 0.6981 to 0.8116. There was an upward move in the past two days but prices stalled just below the 100-day moving average, which will likely restrict any upside [..]
Technical Analysis – EURGBP rally stalls and reverses below 0.80
Posted on April 13, 2016 at 5:25 am GMTEURGBP has staged a strong rally from the November 2015 lows of 0.6981 to rise in an ascending channel to reach a high of 0.8116 last week on April 7. Prices have since reversed lower after failing to close above a key level at 0.8091. This is the 61.8% Fibonacci retracement level of the downleg from 0.8813 to 0.6935 (February 2013 to July 2015 decline). This has acted as a strong resistance level that was tested a few times until [..]
