All Articles Tagged - EURGBP

Technical Analysis – EURGBP hovers below 16-month peak; more weakness is on the cards

Posted on September 14, 2022 at 10:18 am GMT

EURGBP has been underperforming in the last few sessions, breaking back below the key 0.8700 level. When looking at the bigger picture the pair lacks a clear trend and has been consolidating after its rally towards the 16-month peak of 0.8720 near the upper Bollinger band. Based on the technical indicators, momentum is too weak to provide a sustained move higher. The RSI is flattening below 70 and the stochastic oscillator is turning lower after the bearish crossover within its %K and %D lines. If [..]

Technical Analysis – EURGBP pivots higher, but caution remains

Posted on September 7, 2022 at 7:24 am GMT

EURGBP resumed its positive momentum to re-enter the 0.8600 territory after two negative days, but the 0.8645 tough resistance, which has been rejecting upside moves over the past week, remains overhead. The downward reversal in the RSI and the stochastics, as well as the flattening MACD, keeps feeding skepticism about whether the bulls will sustain power in the coming sessions. In the event selling pressures resurface, the bears may attempt to reach the 50% Fibonacci retracement of the 0.8720 – 0.8338 [..]

Technical Analysis – EURGBP takes a breather after amazing rally

Posted on August 31, 2022 at 7:28 am GMT

EURGBP has been in a marvelous rally over the past three consecutive trading days, appreciating by 2.0% to top at 0.8600 and slightly above July’s intra swing high of 0.8583. The ascend picked up steam following the pivot near the 50-day simple moving average (SMA) and the resistance trendline drawn from 0.8677. The question now is whether the impressive rebound will continue at the same strong pace. According to the momentum indicators, the market has not confirmed overbought conditions yet [..]

Technical Analysis – EURGBP dives below 200-SMA and downtrend line

Posted on August 24, 2022 at 9:00 am GMT

EURGBP is easing beneath the 200-day simple moving average (SMA) after the price action was developing back and forth of it in the previous sessions. The price has penetrated the descending trend line to the upside over the preceding week but failed to extend the buying interest. The RSI indicator is diving below the neutral threshold of 50, while the stochastic is approaching the oversold zone. Immediate support is being provided by the 0.8385 barrier before the market possibly tests the 0.8340 level. Should prices [..]

Technical Analysis – EURGBP stays stuck between two diagonal trendlines

Posted on August 18, 2022 at 12:06 pm GMT

EURGBP traded higher yesterday, after hitting support at the crossroads of the 0.8385 level and the tentative upside line drawn from the low of low of March 7. Nonetheless, the advance remained limited near the conversion point of all the plotted exponential moving averages (EMAs), slightly below the downside line drawn from the high of June 15. This likely keeps the near-term outlook neutral, a view also enhanced by the daily oscillators. The RSI rebounded somewhat, but it has now [..]

Technical Analysis – EURGBP pauses bullish wave; 20-SMA in focus

Posted on August 10, 2022 at 8:22 am GMT

EURGBP shifted to the sidelines in the four-hour chart after hitting resistance around the 50% Fibonacci retracement of the 0.8583 – 0.8338 downleg at 0.8460 on Tuesday. The weakness in the RSI and the MACD is backing some stabilization in the short term, though the former is still some distance above its 50 neutral mark, while the latter is attached to its red signal line. Therefore, there might be another opportunity for a rebound before the bears take control, especially [..]

Technical Analysis – EURGBP maintains bearish bias despite some upside pressures

Posted on August 3, 2022 at 2:01 pm GMT

EURGBP is recovering from three-month lows after yesterday sinking to 0.8339, suggesting that a new support base has been formed around 0.8340. This level is above the 78.6% Fibonacci retracement of the March-June uptrend at 0.8313 so it may provide only temporary support as the momentum indicators continue to point to downside risks. The %K and %D lines of the stochastic oscillator have flatlined around the 20 oversold mark after a minor rebound, while the RSI remains well below the [..]

Technical Analysis – EURGBP rebound slows as it approaches cloud top

Posted on July 20, 2022 at 3:25 pm GMT

EURGBP has reversed sharply higher after slumping to a near two-month low of 0.8402 a week ago, recovering back above the 0.85 handle. However, the pair has run into some key obstacles; the 50- and 20-day moving averages (MA) lie overhead in the 0.8530 region. The weakening positive bias is backed by the stochastic oscillator as the %K line is about to cross below the %D line just below the 80-overbought level. But the improving short-term trend remains intact according [..]

Technical Analysis – EURGBP slices through 200-SMA as outlook worsens

Posted on July 13, 2022 at 8:02 am GMT

EURGBP has been experiencing a sharp decline after it failed to surpass the 0.8677 region. Moreover, the price has dived beneath both 50- and 200-day simple moving averages (SMAs) alongside the Ichimoku cloud, painting a gloomy technical picture for the pair. The momentum indicators are endorsing a bearish near-term bias. Specifically, the RSI is flatlining near its 30-oversold zone, while the MACD histogram is extending its drop below both zero and its red signal line. Should selling interest intensify further, 0.8392 could [..]

Technical Analysis – EURGBP plummets below key support; bias worsens

Posted on July 5, 2022 at 9:34 am GMT

EURGBP sellers came in with force during early European trading hours on Tuesday, squeezing the price beneath the protective 20-day simple moving average (SMA) and towards an intra-day low of 0.8566. The quick bearish correction also pierced the 38.2% Fibonacci retracement of the long-term 0.9228 – 0.8201 downleg at 0.8594, which has been limiting both upside and downside pressures over the past two months, and breached the steeper ascending trendline. If the bears secure a close below the 20-day SMA, the decline [..]

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