All Articles Tagged - EURGBP

Technical Analysis – EURGBP rangebound after advance pauses

Posted on June 29, 2022 at 9:17 am GMT

EURGBP has been marching higher since its downtrend ceased at the 0.8510 region, generating a profound structure of higher highs and higher lows. Nevertheless, in the last few four-hour sessions, the pair has been trading sideways after its upside move got capped at 0.8645. The momentum indicators are reflecting a loss of momentum for the pair. The stochastic oscillator is descending after posting a bearish cross, while the MACD has dived beneath its red signal line but remains in the [..]

Technical Analysis – EURGBP unlocks new 16-month high; bullish outlook

Posted on June 15, 2022 at 8:09 am GMT

EURGBP is surging towards a fresh 16-month high of 0.8720, helping the market to switch to a more bullish one. The price jumped above the upper Bollinger band, which is a strong sign for more increases. The RSI indicator is approaching the overbought region with strong momentum, while the stochastic oscillator surpassed above the 80 level. Should the price close comfortably at or above today’s intra-day high, traders could add more value to the pair, pushing the market up to the 0.8860 [..]

Technical Analysis – EURGBP ascends sharply after decline pauses

Posted on June 8, 2022 at 12:18 pm GMT

EURGBP experienced a minor pullback after its uptrend failed to cross above the 0.8588 region. However, the pair quickly bounced back and recouped part of its losses, while the ascending 50- and 200-period simple moving averages (SMAs) paint a bright technical picture. The momentum indicators suggest that positive momentum is strengthening. Specifically, the stochastic oscillator is climbing steeply, while the RSI is sloping upwards beyond its 50-neutral mark. Moreover, the price is trading above the Ichimoku cloud, endorsing a broader [..]

Technical Analysis – EURGBP defends series of higher highs; eyes on 0.8594

Posted on June 2, 2022 at 8:04 am GMT

EURGBP has been gradually gaining ground over the past week, with the 20-day simple moving average (SMA) buffering any selling pressures on the way up and hence defending the latest rebound on the key 200-day SMA at 0.8440. The fact that the price could not reach the upper surface of the short-term bullish channel last week is feeding some caution, though the three-month market structure is still looking somewhat encouraging as the pair has been charting higher highs since the [..]

Technical Analysis – EURGBP stands near 0.8500; appears somewhat neutral in short-term

Posted on May 26, 2022 at 7:13 am GMT

EURGBP posted strong losses on Wednesday, erasing the previous gains, and returning above the 20-day simple moving average (SMA). The bias in the short-term is appearing neutral as the price failed several times to make a daily close above 0.8585. The RSI is sloping slightly upwards in the positive region; however, the MACD is losing momentum below its trigger and zero lines. Should the price retreat further, the 200-day SMA at 0.8437, which the bears were unable to break over the last three [..]

Technical Analysis – EURGBP bearish bias enhanced by capping Ichimoku cloud

Posted on May 18, 2022 at 2:30 pm GMT

EURGBP’s positive impetus, which evolved from the vicinity of the 200-period simple moving average (SMA) at 0.8406, is trading around the 100-period SMA at 0.8473 after fading from the lower surface of the Ichimoku cloud. The cloud has revived the more than one-week decline from the seven-and-a-half-month peak of 0.8618, something which the rolled over 50-period SMA is also endorsing. The Ichimoku lines are suggesting that downside risks remain active, while the positive message from the short-term oscillators appears somewhat [..]

US Open Note – Upbeat data drive risk-on mode ahead of Powell’s speech; Euro gears up on rate hike outlook

Posted on May 17, 2022 at 1:27 pm GMT

Pound is the best performer, but for how long? Markets were volatile ahead of the US open, with the European currencies switching to recovery mode after a period of heavy selling, and the US dollar index losing some steam as some rosy data releases shifted funds to riskier assets and hopes for China easing lockdown measures flourished. Upbeat employment and wage data out of the UK triggered the largest daily increase in the British pound in months. Strikingly, the number [..]

Technical Analysis – EURGBP heads sideways below the 5-month high

Posted on May 11, 2022 at 8:41 am GMT

EURGBP is consolidating after a strong upside rally in the preceding sessions, while it is still holding well above the long-term falling trend line. The RSI is losing its positive momentum after the pullback from the overbought region. Also, the stochastic oscillator is ready to create a bearish cross within the %K and %D lines above the 80 level. A reversal to the downside could find immediate support at the 0.8510 level, while below that, the descending trend line around 0.8480 [..]

US Open Note – Pound crashes on dovish rate hike; Wall Street eyes bearish open

Posted on May 5, 2022 at 1:32 pm GMT

Pound crashes after BoE policy decision The Bank of England stuck to its March guidance, confirming expectations of a 25bps rate hike to 1.0% on Thursday although three out of nine board members surprisingly voted for a sharper 50bps increase. Its inflation projections for the current year moved up to 10% on the back of higher household energy prices and projected additional rises in October, while its growth estimate is now warning a dip slowdown over the next year as [..]

Technical Analysis – EURGBP portrays feeble bullish tone, broader bias neutral

Posted on May 4, 2022 at 9:42 am GMT

EURGBP is trading between the supporting mid-Bollinger band and its capping upper Bollinger band, struggling to sustain its upside vibe north of its rising 50-period simple moving average (SMA). The 200-period SMA, which has stabilized for some time now, continues to sponsor a horizontal trajectory in the pair, while the bullish 50- and 100-period SMAs are endorsing upward price action, aimed at the upper regions of a trading range that started from the beginning of the year. The range has [..]

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