All Articles Tagged - EURGBP

Technical Analysis – EURGBP at new 7-year lows

Posted on January 26, 2015 at 8:29 am GMT

EURGBP touched a new 7-year low today, hitting 0.7403 after opening on Monday with a gap down at 0.7428 compared to Friday’s close at 0.7472. The pair has since filled the gap to trade around 0.7480 in early European session trading. On the daily chart the underlying bias remains bearish. The market is below the Ichimoku cloud and the tankan-sen and kijun-sen lines are falling. RSI is below 50 although at oversold levels. This suggests the possibility of a near [..]

Technical Analysis – EURGBP downtrend takes a breather

Posted on October 3, 2014 at 7:08 am GMT

EURGBP is clearly in a bear trend as can be seen on the daily chart – there are lower peaks and lower troughs and the market is under the Ichimoku cloud. The tenkan-sen and kijun-sen lines are falling, also giving a bearish signal. RSI remains in bearish territory. After approaching close to oversold conditions it turned back up, thereby resulting in EURGBP bouncing off lows of 0.7766 to trade at 0.7840 on Friday. Immediate resistance stands at 0.7880 which is [..]

Technical Analysis – EURGBP sideways action

Posted on September 16, 2014 at 7:01 am GMT

EURGBP has moved back into the daily Ichimoku cloud and is testing 0.7980. This is a key level since it is the 78.6% Fibonacci retracement level of the 0.7750-0.8813 upleg. While the overall markets structure has been bearish, downside pressures have eased slightly as the RSI and MACD have both risen and are out of bearish territory. The tenkan-sen and kijun-sen lines are no longer negatively aligned and have flattened out. Sideways action is to continue as also indicated by [..]

Technical Analysis – EURGBP potential for bullish move higher

Posted on August 8, 2014 at 9:05 am GMT

EURGBP remains outside the downward channel since breaking above it on August 1st. The pair has been consolidating since then but remains capped below the 78.6% Fibonacci retracement level at 0.7980 of the 0.7750 – 0.8813 upleg. Wednesday’s low of 0.7914 provides immediate support while below this the July 23 low of 0.7873 (a 2-year low) is seen as a strong support level. The Tenkan-sen and kijun-sen lines are no longer negatively aligned, with the former crossing above the latter, [..]

Technical Analysis – EURGBP turns bearish

Posted on August 5, 2014 at 9:52 am GMT

EURGBP broke out of the downward channel to rise towards the 78.6% Fibonacci retracement level of the move from 0.7750 to 0.8813. This level at 0.7979 proved to be a strong resistance level and the pair failed to decisively break above it. Prices are falling back towards the channel. RSI has turned down towards 50 signaling falling momentum. Support is seen at 0.7873 which is the July 23 low, a near 2-year low. The general trend is bearish, given that [..]

Technical Analysis – EURGBP bearish below 0.8000

Posted on July 30, 2014 at 9:12 am GMT

EURGBP has been in a downward channel since the 2014 high of 0.8399 hit on March 18. The pair maintains its bearish outlook below they key level at 0.8000. Daily technical indicators are in bearish territory although have now turned neutral – RSI, MACD and stochastic have flattened out, suggesting some exhaustion from selling pressure. However, the tenkan-sen and kijun-sen lines are negatively aligned while prices are below the Ichimoku cloud, keeping the bearish market structure. Immediate support lies at [..]

Technical Analysis – EURGBP bearish

Posted on July 15, 2014 at 9:13 am GMT

EURGBP remains below the key 0.8000 level and the outlook is bearish on the daily chart. The tenkan-sen and kijun-sen are negatively aligned and the RSI is in bearish territory. The market is below the downtrend line from March. After the pair tested resistance at 0.7979 this level was rejected and prices fell. There is scope to target support at 0.7914, the July 7 low. The 0.7979 level is an important barrier since it is also the 78.6% Fibonacci retracement [..]

Technical Analysis – EURGBP rises above key 0.8000 level

Posted on June 25, 2014 at 7:23 am GMT

EURGBP remains below its downtrend line from early March on the daily chart. Prices are well below the Ichimoku cloud and the tenkan-sen and kijun-sen are negatively aligned, all confirming the bearish market structure. Support held at 0.7958 around which prices consolidated for a few days. A dovish Mark Carney caused a short squeeze, helping prices rise above the key 0.8000 level. The market is currently at 0.8027 and has scope to target 0.8150, the end of May high. A [..]

Technical Analysis – EURGBP maintains bearish bias

Posted on June 20, 2014 at 10:11 am GMT

EURGBP maintains its bearish bias as there have been a series of daily closes below the key 0.8000 level. Daily momentum remains negative; the RSI is well into bearish territory at 25. Prices are below the Ichimoku cloud and the tenkan-sen and kijun-sen are negatively aligned, adding to the bearish market structure. To the downside, immediate support is seen at 0.7958 which is the June 16 low, the lowest since September 2012. A break below this would precipitate a move [..]

Technical Analysis – EURGBP 4-hourly: Euro breaks 80 pence, dropping to 1 ½ year low against pound

Posted on June 13, 2014 at 8:06 am GMT

[caption id="attachment_17599" align="alignnone" width="555"] (click to enlarge)[/caption] Recent action of the euro versus the pound has resulted in new 1 ½ year lows, with the euro retreating below the psychologically important 80 pence level. The euro traded as low as 0.7985 today. The trend is down given that price action is below all the moving averages, long-, medium- and short-term. The moving averages are also pointing down, reinforcing the bearish picture. However, recent price action has led to oversold conditions. [..]

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