All Articles Tagged - EURGBP

Technical Analysis – EURGBP holds bullish outlook

Posted on March 24, 2016 at 8:04 am GMT

The bullish outlook for EURGBP is in tact as the pair remains above the key 0.7500 level. After the formation of a double bottom trend reversal pattern, the market rose to the highest level in over 15 months around the 0.7930 area. The scope for more upside is supported by the fact that prices have crossed above the 50% long term Fibonacci retracement level (0.7870) of the downleg from 0.8813 to 0.6935 (February 2013 to July 2015 decline). The next [..]

Technical Analysis – EURGBP continues uptrend after double bottom pattern

Posted on February 11, 2016 at 8:00 am GMT

EURGBP is continuing the uptrend after the formation of the double bottom trend reversal pattern. The shift to a bullish trend was confirmed after the market broke above the key 0.7500 level in January and prices are now targeting the 50% Fibonacci retracement level at 0.7870. This is the retracement of the downleg from 0.8813 to 0.6936 (February 2013 to July 2015 low). Once this resistance level is breached, a continuation up toward the 0.8000 level could be seen next. [..]

Technical Analysis – EURGBP regains 0.75 handle after steady rally to 1-year high

Posted on January 12, 2016 at 8:00 am GMT

EURGBP regained the 0.75 handle and is peaking above the weekly Ichimoku cloud on Tuesday after a steady rally off the key 0.7000 level in recent weeks. The pair hit a 1-year high of 0.7554. There is scope for further upside momentum as the RSI is rising and above 50 in bullish territory. Also, the tenkan-sen line has crossed above the kijun-sen line, which is a bullish signal. Near term support is at 0.7390. A break below this would see [..]

Technical Analysis – EURGBP shifts to the downside

Posted on May 8, 2015 at 6:57 am GMT

EUR/GBP fell sharply on Friday after the UK election exit polls pointed to a victory for the Conservative Party. The downside bias strengthened after prices fell back into the Ichimoku cloud. This suggests the market has topped at the May 7th high of 0.7482 in the near-term. Prices have also fallen below the tenkan-sen and kijun-sen lines and RSI dipped just below the 50 line – all these are indicating an intra-day bearish bias. A break of support at 0.7116 [..]

Technical Analysis – EURGBP back to the upside

Posted on May 1, 2015 at 6:36 am GMT

EUR/GBP intra-day bias is back to the upside after prices rose above trend line resistance and cleared a key resistance zone between 0.7241 and 0.7249. Looking at the daily chart, the pair has found support at 0.7296 at the 23.6% Fibonacci retracement level of the upleg from the March 11 low of 0.7013 to the March 25 high of 0.7384. RSI is in bullish territory above 50 but we would need to see a break above the March 25 high [..]

Technical Analysis – EURGBP falls to lower Bollinger Band

Posted on April 22, 2015 at 6:52 am GMT

EURGBP fell back to the lower Bollinger Band bringing the bias back to bearish. Momentum is also bearish as the RSI is below 50. The intra-day bias is neutral as the pair has been consolidating around 0.7163 and 0.7234. A move below the lower range would open the path towards the March low at 0.7013. Alternatively a bounce higher could see at retest of 0.7384. The overall outlook is bearish and the downtrend from 0.8037 (November 2014 high) is still [..]

Technical Analysis – EURGBP tests cloud base

Posted on April 17, 2015 at 4:24 am GMT

EURGBP is being capped by the daily Ichimoku cloud which is acting as very strong resistance. The last time the market was above the Ichimoku cloud was in December 2014. Since then the bias has been strongly bearish and prices reached a 7-year low of 0.7013 in March 2015. There was an attempt for a recovery to 0.7384 before falling back down due to the cloud resistance. RSI is back below 50, so this is a bearish signal. The market [..]

Technical Analysis – EURGBP falls back to lower end of range

Posted on April 9, 2015 at 6:42 am GMT

EURGBP is in a range and the near-term bias remains neutral. Resistance lies at the top of the range at 0.7384 and to the downside immediate support is at 0.7221. A break below this would bring the bias back to the downside and see a retest of the multi-year low of 0.7013 reached in March. If this support level fails to hold, a move lower would strengthen the downtrend that occurred from 0.8005 to 0.7013. The market has found resistance [..]

Technical Analysis – EURGBP bearish at new 7-year low

Posted on February 25, 2015 at 7:25 am GMT

EURGBP hit a new 7-year low of 0.7315. The outlook remains bearish for the pair as it remains below minor resistance at 0.7458. A break above this level would however weaken the bearish bias. Meanwhile, a break below the low of 0.7315 would strengthen the downtrend and target the next support level at 0.7260 (the 61.8% Fibonacci retracement level of the upleg from 0.5680 – 0.9801). Looking at the daily chart, the falling Ichimoku cloud and the negatively aligned tenkan-sen [..]

Technical Analysis – EURGBP hovers near 7-year low, strong bearish bias

Posted on February 18, 2015 at 7:25 am GMT

EURGBP is hovering near a 7-year low of 0.7371. The outlook remains bearish for the pair as it remains below minor resistance at 0.7458. A break above this level would weaken the bearish bias. Meanwhile, a break below the low of 0.7371 would strengthen the downtrend and target the next support level at 0.7260 (the 61.8% Fibonacci retracement level of the upleg from 0.5680 – 0.9801). The falling Ichimoku cloud and the negatively aligned tenkan-sen and kijun-sen lines highlight the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

EURGBP

XM Live Chat