All Articles Tagged - EURGBP

Technical Analysis – EURGBP bearish

Posted on May 28, 2014 at 9:35 am GMT

EURGBP is in a downtrend. On the 4-hour chart prices have found support at 0.8080 and there has been a slight correction to the upside, to attempt to penetrate into the Ichimoku cloud on the 4-hour chart. RSI has turned positive and the stochastic is near overbought territory. The upside momentum could fade as the cloud will likely act as an important barrier to the upside. Prices have turned back down after reaching a high of 0.8128. Support is seen [..]

Technical Analysis – EURGBP strong bearish bias

Posted on May 14, 2014 at 8:09 am GMT

EURGBP is bearish on the weekly chart. Prices are below the 200-period moving average and below the downtrend line. The pair came under pressure after breaking below the key 0.8400 level and prices are currently just below the 61.8% Fibonacci retracement level (0.8155) of the upleg from July 2012 (0.7750) to February 2013 (0.8813). Technical indicators such as the RSI and stochastic are pointing to further downside. The next important support level is at 0.8000, close to the 78.6% Fibonacci [..]

Technical Analysis – EURGBP bearish

Posted on February 13, 2014 at 8:58 am GMT

EURGBP is in a downward channel since falling from the July 2013 high (0.8767) to the January low (0.8167). The pair has been hovering just above this low for the past three weeks and any upside moves have met resistance provided by the 23.6% Fibonacci retracement level of the July-January down-leg. The upper channel line as well as the 20-period moving average is also capping the pair. The stochastic is falling and is currently at 35, indicating bearishness. As long [..]

Technical Analysis – EURGBP 4-hourly: Euro at 1-year low against pound

Posted on January 20, 2014 at 9:47 am GMT

[caption id="attachment_12755" align="alignnone" width="550"] (click to enlarge)[/caption] The pound had an interesting first few days to 2014, particularly against the euro, which is also failing to build on its good performance of 2013. The euro fell to its lowest against the pound since early January of 2013 on 9th January 2014 at 0.8229. This level represents support for now, as it held when it was tested on 9 January. There was then a recovery which raised the euro more than [..]

Technical Analysis – EURGBP focus remains on the downside

Posted on January 2, 2014 at 10:49 am GMT

Sterling remains strong against the euro, keeping EURGBP bearish. Currently there is congestion at the 50% Fibonacci retracement level at 0.8286 of the move from the July low to the February high, as observed on the weekly chart. This Fibonacci level acts as strong support in the near term but a potential move below this level toward the next 61.8% Fibonacci level at 0.8160 is possible as the weekly momentum is negative and RSI is in bearish territory below 50. [..]

Technical Analysis – EURGBP, 4-hourly: Euro’s uptrend faces test ahead as MACD diverges

Posted on December 16, 2013 at 11:02 am GMT

[caption id="attachment_12020" align="alignnone" width="550"] (Click to enlarge)[/caption] The euro has managed to post respectable gains against the pound since the 0.8251 low that was registered on December 2nd. The euro’s upward trend was confirmed when it managed to make new three-week highs after it broke through the 0.8390 level on its second attempt. 0.8390 has since turned into the more immediate support level, should price head downwards. The other support is the 11-month low reached on the 2nd of December [..]

Technical Analysis – EURGBP bearish weekly outlook

Posted on November 29, 2013 at 10:07 am GMT

Sentiment on EURGBP is bearish, after successive lower peaks and lower troughs since February. The pair is currently at 0.8330 in mid- European session trading on Friday after breaking below the 38.2% Fibonacci level of the move from the July 22,2012 low at 0.7755 to the February 24,2013 high at 0.8814 based on the weekly chart. Current technical studies show the RSI in bearish territory at 41. The RSI has been steadily declining since late January. There is scope for [..]

Technical Analysis – EURGBP

Posted on November 13, 2013 at 8:48 am GMT

EURGBP rallied strongly since the November 7 low of 0.8299 to gain over 160 pips to the November 13 high of 0.8462. This high was retested again today and has proven to be a strong resistance level, leading the pair to ease back down, where it is currently finding support at the 21-period moving average. The first support level is at 0.8442 and below this, further support is seen at 0.8432 and 0.8415. The main driver for the EURGBP pair [..]

Technical Analysis – EURGBP daily looking to reverse the July-September downtrend

Posted on October 16, 2013 at 7:58 am GMT

The Euro against the Pound is usually one of the more quiet currency crosses as the Eurozone economy exerts a significant influence on the UK through trade and financial flows. Nevertheless, since the pound is of course a freely floating currency, interesting opportunities and setups do arise. Following the 0.8767 high on August 1st, the euro reversed course and moved down to a low of 0.8331 on October 1st. The reaction from this low caused the euro to break its [..]

European Session – Euro rebounds against yen

Posted on February 11, 2013 at 2:11 pm GMT

The euro rebounded against the yen and sterling in Monday’s European session, recovering some losses after a sharp dip last week. Last Thursday, remarks from European Central Bank chief Mario Draghi hurt the single currency when he expressed concern about the recent strength of the euro. The euro rose by around 1.1 percent against the yen to hit a session high of 125.37 yen, although it remained well below the 34-month high of 127.69 hit on February 6. After touching [..]

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