All Articles Tagged - EURGBP

Daily Market Comment – Dollar stays strong, pound plummets as UK inflation eases

Posted on February 16, 2023 at 9:09 am GMT

US retail sales rebound strongly, adding to soft landing hopes Dollar climbs higher as investors maintain Fed hike bets Pound falls as slowing inflation alleviates pressure on BoE Equities gain, but gold extends decline US retail sales rise most in two years, dollar extends gains The US dollar continued to march north on Wednesday, outperforming all the other major currencies, although it pulled back somewhat today. What added extra fuel to the dollar’s engines may have been the hotter-than-expected US [..]

What does the current yield curve inversion tell us about future asset performance? – Special Report

Posted on February 15, 2023 at 2:52 pm GMT

Economists and market participants enjoy identifying indicators that, according to their analysis, reveal the future economic performance. Among the plethora of such indicators, the inverted 2-year/10-year (2s10s) US yield curve holds a special place in their hearts as it has predicted the most recent recessions. At the moment, the 2s10s US curve trades at an extremely inverted level that has been seen only twice in the past 40 years. What were the economic conditions that led up to this inversion [..]

Technical Analysis – EURGBP sees strong bullish momentum after a negative week

Posted on February 15, 2023 at 8:41 am GMT

EURGBP revived its bullish momentum on Wednesday after a week of losses, which pressured the pair from February’s high of 0.8978 to the 0.8800 round level. The pair is aiming to preserve strength above the short-term support trendline around 0.8820 and hold within the bullish channel. If it snaps the 38.2% Fibonacci retracement of the former 0.8201-0.9249 uptrend at 0.8850 too, the recovery may stretch towards the 23.6% Fibonacci of 0.9000 and the channel’s upper surface. Some consolidation around January’s resistance of [..]

Fourth-quarter GDP print to ease sterling problems? – Forex News Preview

Posted on February 6, 2023 at 1:12 pm GMT

Last week was dominated by the US, particularly the impressive data releases on Friday. Other regions could steal the limelight this week, particularly the UK where developments across the board are not encouraging. Friday’s fourth-quarter GDP figure could potentially offer some respite, but will this be enough for sterling to recover some of its recent losses? UK issues remain unsolved The UK continues to be seen as the problematic child of Europe. It remains a laggard among developed countries in [..]

Daily Market Comment – Euro and pound slide after ECB and BoE, NFPs enter the limelight

Posted on February 3, 2023 at 9:18 am GMT

ECB’s Lagarde signals another 50bps hike in March BoE’s Bailey says inflation is turning the corner Investors lock gaze on US jobs data ECB President Lagarde appears in hawkish suit but euro slides After the Fed, it was the turn of the ECB and the BoE to announce their monetary policy decisions yesterday. Both of them raised interest rates by 50bps as was widely expected but remarks by ECB President Lagarde and BoE Governor Bailey did not bode well for [..]

Technical Analysis – EURGBP gains momentum; tries to shift the outlook to strongly bullish

Posted on January 25, 2023 at 8:01 am GMT

EURGBP is recording the fifth straight green day, following the rebound off the 0.8720 support and the 50-day simple moving average (SMA). The price jumped above the 20-day SMA as well and is approaching a crucial resistance at 0.8895. Technically, the RSI is heading north above the neutral threshold of 50, while the MACD is strengthening its positive momentum above the zero line but is still below its trigger level. If buyers push above the 0.8895 barrier, initial resistance could [..]

Technical Analysis – EURGBP lacks clear direction as it remains below 0.8900

Posted on January 17, 2023 at 8:01 am GMT

EURGBP is testing the 0.8895 resistance level, remaining well above the short-term simple moving averages (SMAs). Moreover, the price rebounded after it found support near the 0.8830 barrier, enhancing the argument that the picture may turn positive. Looking at momentum oscillators on the daily chart, though, they suggest some declines may be on the cards in the short-term. The RSI is above its neutral 50 line but is pointing down, detecting negative momentum. The MACD is trying to overcome its trigger [..]

Technical Analysis – EURGBP tries to clear the 0.8870 resistance

Posted on January 11, 2023 at 3:36 pm GMT

EURGBP rebounded this week, after it found support near the 0.8775 barrier, marked by the low of January 4. Currently, the bulls are trying to emerge above the key resistance zone of 0.8870, the break of which could carry larger bullish implications. In the bigger picture, the pair is trading above all three of the plotted moving averages and well above the uptrend line drawn from the low of March 7, technical signs of a positive medium-term outlook. The RSI, [..]

Technical Analysis – EURGBP gets fresh impetus; tests key resistance

Posted on December 22, 2022 at 8:38 am GMT

EURGBP drew bulls‘ attention after setting a nice foothold around the 0.8700 key constraining zone, with the price accelerating to a new five-week high of 0.8790 early on Thursday. Additional gains are likely as the momentum indicators keep strengthening within the bullish area. Yet, some caution is required as the RSI and the stochastics are close to overbought levels. Besides, with the price trading around the upper boundary of a descending channel at 0.8777 and not far below the key 0.8820 resistance area, the bears might be [..]

Technical Analysis – EURGBP trades in a sideways manner

Posted on December 14, 2022 at 10:37 am GMT

EURGBP has been trading in a quiet mode since Friday, hovering slightly above the 0.8545/70 zone, which has been providing strong support since September. That area is also acting as the lower bound of a sideways range the pair has been trading in since early October, with the upper bound being at 0.8825. This, combined with the fact that all three of the plotted moving averages point sideways, paints a neutral picture for now. Adding to the trendless narrative are [..]

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