All Articles Tagged - EURGBP

Technical Analysis – EURGBP slips again but holds within a rectangle pattern

Posted on November 23, 2022 at 12:11 pm GMT

EURGBP appears to be maintaining a horizontal trajectory, trapped between the 0.8830 resistance and the 0.8565 support. A paused state of directional momentum is reflected in the flattish short-term simple moving averages (SMAs), while the technical oscillators are suggesting some losses. The MACD has barely inched below its red trigger line in the negative region, while the RSI is falling from its neutral mark. If sellers drive the pair lower, the 0.8565 barrier could interrupt the pair ahead of the 200-day SMA at [..]

Technical Analysis – EURGBP lacks bullish mood; support at 0.8700

Posted on November 18, 2022 at 9:13 am GMT

EURGBP has been in a consolidation phase over the past two weeks, maintaining a foothold above the 0.8700 level and the support trendline drawn from the August low of 0.8338. The momentum indicators currently reflect a neutral-to-bearish bias. The RSI and the MACD have been gradually diminishing over the past week, with the former looking for a break below its 50 neutral mark and the latter flirting with its red signal line. Meanwhile, the falling stochastics have yet to enter the oversold [..]

Technical Analysis – EURGBP overcomes the SMAs but short-term outlook is neutral

Posted on November 9, 2022 at 11:23 am GMT

EURGBP is gaining some ground above the 20- and 50-day simple moving averages (SMAs) with the next strong resistance being the 0.8790 barrier. The short-term outlook is neutral as the price is consolidating within 0.8565-0.8790 over the last month. The RSI is ticking higher near the neutral threshold of 50, while the MACD is approaching the zero level, holding above its trigger line. If buying interest picks up, early tough resistance could occur at the 0.8790 high, where the ceiling [..]

Technical Analysis – EURGBP stays below the lower bound of a range

Posted on November 2, 2022 at 12:56 pm GMT

EURGBP has been trading in a consolidative manner recently, staying above the 0.8565 support level, marked by the low of September 6, but also below the lower boundary of the sideways range that contained most of the price action between October 3 and 27. This suggests a cautiously negative short-term outlook and the fact that the pair is trading below all three of the plotted exponential moving averages adds extra credence to that view. The RSI ticked down after it hit resistance [..]

Technical Analysis – EURGBP trades in trendless mode

Posted on October 26, 2022 at 11:36 am GMT

EURGBP traded lower yesterday, after it hit resistance slightly below the 0.8780 zone. Today, the rate is flirting with the 0.8655 barrier, but a break lower may be needed before the bears claim full control of the pair. Most of the price action has been contained between that barrier and 0.8780 since the beginning of the month, which suggests a neutral short-term picture. The RSI is lying below 50 and the MACD is running below both its zero and trigger lines, [..]

Technical Analysis – EURGBP finds support at 50-day SMA

Posted on October 19, 2022 at 9:10 am GMT

EURGBP is looking bullish in the short term after the rebound off the 50-day simple moving average (SMA) in the previous week. Prices are moving towards the next resistance at the 20-day SMA and the technical indicators are all pointing to further positive momentum. The stochastics are heading upwards, with the %K line and %D lines completing a bullish cross, suggesting plenty of scope for additional upside moves. The RSI is trying to enter the positive area with weak momentum. [..]

Technical Analysis – EURGBP finds support near the 20-day SMA above 0.8800

Posted on October 12, 2022 at 10:13 am GMT

EURGBP is finding safety above the 20-day simple moving average (SMA), following a heavy selling pressure after hitting a 21-month high of 0.9250. The market is currently developing above the long-term uptrend line; however, the technical oscillators are showing some weak signs. The RSI is pointing down in the bullish area, while the stochastics failed to jump above the overbought region. If prices continue to rise, they might reach the multi-month high of 0.9250 or encounter initial resistance at the 0.9290 barrier, registered in 2009. But if the current upward [..]

Technical Analysis – EURGBP recoups some of the losses from the previous days

Posted on October 5, 2022 at 10:21 am GMT

EURGBP is finding strong support at the 0.8645 barrier after the sharp selling interest from the 21-month peak of 0.9250. Currently, the market is developing within the 20- and 50-day simple moving averages (SMAs), remaining above the long-term uptrend line. The RSI indicator is flirting with the neutral threshold of 50, while the stochastic is posting a bullish crossover within the %K and %D lines in the oversold zone. Immediate resistance to further gains would likely come from the 20-day SMA at [..]

Technical Analysis – EURGBP heads higher in choppy trade amid mixed momentum

Posted on September 28, 2022 at 1:33 pm GMT

EURGBP is back on the front foot on Wednesday following the sharp reversal from Monday’s two-year peak of 0.9250. The pair is attempting to reclaim the 0.9000 handle even as the momentum indicators are diverging. The %K and %D lines of the stochastic oscillator are drifting lower and are negatively aligned, but the RSI is pointing upwards in the overbought territory. The price has been fluctuating wildly around the upper Bollinger band over the last few daily trading sessions, in [..]

Technical Analysis – EURGBP rally overbought but still supported

Posted on September 21, 2022 at 7:20 am GMT

EURGBP started the week on the back foot after securing seven consecutive green weeks, with the price gradually retreating from Monday’s 19-month high of 0.8788. The 0.8720 level, which switched from resistance to support on Tuesday, is currently under examination on the downside, along with the steep tentative ascending trendline. Should the bears breach that base, selling pressures could intensify towards the 0.8679 bar. Slightly lower, the 20-day simple moving average (SMA) at 0.8645 may cancel any extensions towards the intra-swing low [..]

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