All Articles Tagged - EURGBP

Technical Analysis – EURGBP heads lower; support at 20-day SMA

Posted on October 4, 2023 at 3:01 pm GMT

EURGBP extends its pullback from 4-month high Mildly bearish bias in the near term But plenty of support at 20-day SMA and uptrend line EURGBP has been gradually edging lower after scaling a four-month high in late September. The momentum indicators are mixed as the RSI has flatlined slightly above the 50-neutral level but the MACD just crossed below its red signal line. If the bearish pressure intensifies, the pair could soon test the crucial support zone in the 0.8630 [..]

Bank of England decision could spell bad news for sterling – Preview

Posted on September 19, 2023 at 11:59 am GMT

Bank of England set to raise interest rates this week Mixed economic data, so commentary could be cautious Risks for British pound seem tilted to the downside Decision expected at 11:00 GMT on Thursday Weaker data pulse The United Kingdom economy seems to be losing steam, with recent data releases showcasing a severe slowdown in growth and a softer labor market. Economic growth was stagnant in July from a year earlier and business surveys warn the situation will get worse, [..]

Technical Analysis – EURGBP turns bullish in the short term

Posted on September 13, 2023 at 8:29 am GMT

EURGBP posts a higher high to climb to a one-month peak Short-term bias increasingly bullish according to technical indicators But long-term descending trendline could curb advances EURGBP is scaling a higher high on Wednesday, climbing above the 100-day simple moving average (SMA), having already reclaimed the 20- and 50-day SMAs. The momentum indicators point to further gains in the near term. The MACD just turned positive and is increasing its distance above its red signal line. The RSI is edging [..]

Could this week’s data prints cement next week’s BoE rate hike? – Preview

Posted on September 11, 2023 at 8:03 am GMT

Important data releases coming up as markets look ahead to next week’s key events Average earnings figures are expected to remain elevated, sounding an alarm at the BoE The main part of this week’s data will be released on Tuesday (06:00 GMT) The Bank of England prepares for next week’s meeting Central banks have put the summer break behind them and are preparing for a frantic period ahead. The BoE is hosting its meeting next week, on September 21, a [..]

Technical Analysis – Could EURGBP bulls react to the mounting bearish pressure?

Posted on September 6, 2023 at 8:10 am GMT

EURGBP is registering its first green candle after five consecutive red candles as the bulls are trying to engineer some sort of advance. Since the February 3, 2023 high of 0.8978, EURGBP has been on a steady downward path with the equivalent trendline repeatedly proving to be a very significant resistance point. In addition, the bulls would potentially have to encounter a questionable and very complex head-and-shoulders pattern. In the meantime, the momentum indicators side mostly with the bears. The Average Directional Movement Index [..]

Market Comment – Dollar trades mixed, awaiting Powell’s speech; Euro slides on PMIs

Posted on August 23, 2023 at 8:14 am GMT

Dollar trades mixed as Jackson Hole draws closer Fed’s Barkin sees reacceleration scenario Euro falls on PMIs, UK PMIs next Wall Street turns spotlight to Nvidia earnings Fed’s Barkin adds to the likelihood of more Fed hikes The US dollar traded mixed against the other major currencies on Tuesday as traders may be reluctant to assume large positions ahead of the Jackson Hole economic symposium and Fed Chair Powell’s speech on Friday. With the Fed turning data dependent and US [..]

Technical Analysis – EURGBP trades sideways but the bears still eye a new 2023 low

Posted on August 22, 2023 at 9:40 am GMT

EURGBP is trading sideways today, not far from the recent July 11, 2023 low of 0.8503. The bears are actually trying to take advantage of the head-and-shoulders pattern and achieve at least a drop towards the 0.8500 area, with the full-height pattern target being in the 0.8400 region. The momentum indicators appear to be fully supportive of the bears’ intentions. The Average Directional Movement Index (ADX) has risen above its 25-threshold, signaling a decent bearish trend in the market, and the RSI seems [..]

UK PMI surveys on the agenda but the focus will be across the pond – Preview

Posted on August 21, 2023 at 8:21 am GMT

With the market anxiously expecting this week’s Jackson Hole gathering, on Wednesday we will get the preliminary UK PMI survey results for August. As the pound remains one of the market’s favorites, a positive surprise at this week’s data releases could quickly reignite the BoE’s rate hike expectations and allow the euro/pound pair to record a new 2023 low. BoE’s next steps Contrary to the Fed, the BoE is still trying to bring inflation under control in the UK. Despite [..]

Performance of key market instruments when the 10-year US yield rises above 4% – Special Report

Posted on August 18, 2023 at 7:58 am GMT

August is traditionally seen as a quiet month, but once again significant developments are taking place globally. In particular, the 10-year US yield has climbed decisively above the 4% threshold as market participants are scrambling to explain this move amidst a low liquidity environment. A quick look at market history could give us some valuable insight as to what the future holds for euro-dollar and other key market instruments. Significant developments everywhere The market has once again proven that it [..]

Technical Analysis – EURGBP reconsiders its bullish mission

Posted on August 16, 2023 at 9:17 am GMT

EURGBP could not find enough buyers to print a new higher high above July’s peak of 0.8700 last week, pausing its latest upleg lower at 0.8668. Unfortunately, the bears are currently trying to push the price below the short-term bullish channel and the 50-day SMA, which previously prevented a drop below 0.8585. The downward trajectory in the momentum indicators is endorsing the negative momentum in the price, though only a decisive close below the previous low and the 61.8% Fibonacci retracement [..]

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