All Articles Tagged - EURGBP

Technical Analysis – EURGBP flips backwards; focus on 0.8780

Posted on November 22, 2023 at 11:17 am GMT

EURGBP erases last week’s bounce Technical signals are mixed Selling pressures might intensify below 0.8780 EURGBP switched to losses, falling back below its 20-day simple moving average (SMA) after an unsuccessful three-day battle around the more-than-six month high of 0.8764. The pair is currently trying to stay afloat above the 0.8700 round-level as the 20-day SMA proved a tough obstacle earlier today at 0.8712. From a technical perspective, the risk is more to the downside than to the upside. [..]

UK PMIs on the menu but political difficulties reemerge – Preview

Posted on November 21, 2023 at 8:52 am GMT

PMI survey prints will be released on Thursday amidst volatile political environment Wednesday’s Autumn statement is key as another government crisis could unfold soon Pound does not enjoy the increased domestic risks, especially as BoE remains dovish Inflation dropping but so is growth Bank of England Governor Bailey got his wish in last week’s inflation report for October. The annual inflation growth rate dropped to a respectable 4.6% from 6.7% in the previous month, and miles away from the November [..]

Technical Analysis – Is it time for a bearish reaction in EURGBP?

Posted on November 13, 2023 at 12:49 pm GMT

EURGBP edges lower today, a tad above 0.8720 It continues to respect the August 23, 2023 trendline Momentum indicators remain mostly bullish EURGBP is trading a tad above 0.8720 and registering its first red candle after five consecutive green candles. It bounced off the August 23, 2023 ascending trendline last week with the bulls aiming to record a new high, keeping the bullish structure of higher highs and higher lows alive and recouping another part of the losses they incurred [..]

Weekly Technical Outlook – EURGBP, AUDUSD, USDJPY

Posted on November 6, 2023 at 12:56 pm GMT

UK GDP in focus this week; pound could significantly benefit from a strong print RBA meeting and Chinese data could push aussie even higher against the US dollar USDJPY could break below its upward trending channel if Japanese data improve UK GDP Q3 print -> EURGBP The Bank of England kept its main bank rate unchanged at last week’s meeting despite the inflation rate remaining at a very high level. Bailey et al kept the door open to further tightening [..]

Market Comment – Investors lock gaze on US NFP data

Posted on November 3, 2023 at 9:00 am GMT

Dollar slides as Fed pours more cold water on hike expectations Spotlight turns to US employment report for October Pound receives little boost from BoE’s hawkish hold Wall Street cheers potential interest rate peak, earnings help Dollar on the back foot ahead of NFP report The US dollar traded lower against all the other major currencies on Thursday, weighed down by the Fed’s decision on Wednesday to keep interest rates untouched, while pouring more cold water on expectations of one [..]

Technical Analysis – EURGBP bulls take the steering wheel

Posted on October 31, 2023 at 11:09 am GMT

EURGBP moves further away from the upper end of a prior range Both the MACD and the RSI indicate positive momentum These signs paint a cautiously positive short-term picture EURGBP bulls have gained the upper hand this week, distancing themselves from the key barrier of 0.8700, fractionally above which the pair has been oscillating since October 20. That zone acted as the upper bound of the sideways range that had been containing most of the price action since May, and [..]

Doves are firmly in control of BoE meeting – Preview

Posted on October 31, 2023 at 9:58 am GMT

The Bank of England meets as geopolitical developments affect market sentiment Another pause is priced in but Wednesday’s Fed gathering could unsettle expectations The statement is set for Thursday 12:00 GMT; press conference 30 minutes later Calendar also includes the final Manufacturing and Services PMI prints Data since September have been on the weak side With the focus lately turned elsewhere, it has been a quiet month for the ΒοΕ, especially as its members continued to be less active when compared [..]

ECB meets but no fireworks expected – Preview

Posted on October 23, 2023 at 7:38 am GMT

The ECB rate-setting meeting dominates this week’s busy schedule Market does not expect a rate change; focus on statement and overall rhetoric Decision will be announced on Thursday 12.15 GMT, press conference at 12:45 GMT ECB travels to Greece for another meeting The European Central Bank is holding its penultimate meeting for 2023 on Thursday, a week before the Fed gathering. This fact alone increases the pressure on the ECB to avoid shocking the market with its announcements. To be [..]

Technical Analysis – EURGBP snaps key barriers, but one more remains

Posted on October 20, 2023 at 8:22 am GMT

EURGBP heads for a strong weekly close Bull run faces another challenge at 0.8740 EURGBP recorded a couple of bullish achievements this week, ascending above the resistance trendline, which halted September’s bull run, and crawling above the 200-day simple moving average (SMA) for the first time since May. The price resumed its bullish momentum on Friday to unlock a six-month high of 0.8736, but the 50% Fibonacci retracement of the 0.8201-0.9249 upleg at 0.8725 might prove challenging as the RSI and the stochastic [..]

Strong data prints could unsettle the delicate balance at the BoE – Preview

Posted on October 16, 2023 at 7:44 am GMT

Key data releases coming up as the market digests geopolitical developments All eyes on CPI release (Wednesday 06:00 GMT) as the BoE is uneasy with strong prints Calendar also includes labour market information, average earnings data and retail sales The Bank of England does not really favour further rate hikes At the September meeting the BoE kept its bank rate unchanged at 5.25%. It was a very close call, reminiscent of past and more turbulent times at the BoE. Governor [..]

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