All Articles Tagged - EURGBP

Technical Analysis – EURGBP applies brakes on decline around 0.85

Posted on October 6, 2021 at 3:39 pm GMT

EURGBP sellers have steered the latest price descent from the 2-month high of 0.8658 down towards the 0.8500 handle, but buyers are fighting back to overturn further downward price development. The simple moving averages (SMAs) are converging and provide no clear message towards the pair’s directional path. Conflicting proposals in directional momentum are also being conveyed in the short-term oscillators. The MACD, far below the zero threshold, is flirting with its red trigger line, while the negatively charged stochastic oscillator [..]

Technical Analysis – EURGBP resistance barricade denies extension of rally

Posted on September 29, 2021 at 3:31 pm GMT

EURGBP’s latest upside momentum has stalled at the resistance ceiling of 0.8658-0.8671, which was formed by the July and May highs. The until recently trendless simple moving averages (SMAs) are now reflecting the upsurge in positive price action with their slightly raised bearings. The short-term oscillators are demonstrating that buyers are struggling to push the price over the limiting border of 0.8658-0.8671. The MACD continues to strengthen far above its red trigger line, suggesting buyers are in command. Yet, the [..]

US Open Note – Euro unchanged as ECB meets PEPP expectations; dollar stable

Posted on September 9, 2021 at 1:16 pm GMT

Taper – ECB style Starting bond tapering could be an unwise decision when the pandemic is still propagating worldwide through its threatening variants. However, setting a route for the train to run when the right time comes could provide some relief and reduce the case of a risky market reaction, especially as inflation is showing no convincing signs of abating. With economic growth remaining fragile and inflation hovering at a 10-year high of 3.0% y/y in the Eurozone, the ECB decided [..]

Technical Analysis – EURGBP renews August uptrend; bias positive

Posted on September 7, 2021 at 1:18 pm GMT

EURGBP quickened its pace higher on Tuesday, putting the August uptrend back on the wires to peak at a fresh seven week high, marginally above the previous top of 0.8600. According to the RSI and the Stochastics, the market has not entered overbought waters yet as both indicators are currently sloping upwards and are still some distance below their overbought levels. Also, the MACD has bounced back into the positive area. Hence, if the pair posts a decisive close above [..]

US Open Note – Dollar consolidates losses as jobs day looms; stocks mildly up

Posted on September 2, 2021 at 1:37 pm GMT

US Jobless claims pin fresh low as expected The downbeat ADP private jobs survey and the dip in the employment component of the ISM manufacturing PMI created plenty of interest in the US initial jobless claims numbers on Thursday as anxiety continues to grow about whether Friday’s nonfarm payrolls will meet the criteria for the Fed’s bond tapering plans to start sooner rather than later. Encouragingly, though, the data presented a more or less expected outcome, showing an increase of [..]

Technical Analysis – EURGBP backs off near six-week high

Posted on September 2, 2021 at 10:15 am GMT

EURGBP faltered after barely surpassing the 0.8600 level on Wednesday in the four-hour chart. The 61.8% Fibonacci retracement of the 0.8668 – 0.8449 down leg is also in the neighborhood, cementing that ceiling and making any violation at this point important to watch. The soft slowdown in the RSI and the MACD is reflecting a weakening bullish bias. Yet, as long as the former maintains its higher lows above the short-term ascending trendline and the latter remains around its red signal line [..]

Technical Analysis – EURGBP finds support near trendline; next resistance at 0.8568

Posted on August 26, 2021 at 9:54 am GMT

EURGBP refused to close below the 50-period simple moving average (SMA) in the four-hour chart and the supportive trendline, raising optimism that the upward pattern could see further continuation even if the flattening SMAs are providing little hope for an uptrend improvement at the moment. The 0.8568 level is the nearest barrier, which the bulls need to successfully overcome in order to rally towards the previous peak of 0.8592 and the 61.8% Fibonacci of the 0.8668 – 0.8449 downleg. But [..]

US Open Note – Risk currencies become the best performers as delta fears persist

Posted on August 23, 2021 at 1:16 pm GMT

Jackson Hole in focus, as delta strain challenges policy decisions Although not a game changer yet, the RBNZ policy announcement showed last week that the spread of the delta virus strain could bring some rescheduling in monetary policy plans, and therefore some exciting volatility in FX markets. Policymakers postponed a widely expected 25 bps rate hike for later in the year as a handful of new cases was enough to prompt a snap lockdown given the low vaccination rates in [..]

UK inflation and retail sales likely eased in July but pound to stay elevated – Forex News Preview

Posted on August 17, 2021 at 7:50 am GMT

It’s a data-heavy week for the UK, with investors turning to Wednesday’s CPI readings and Friday’s retail sales numbers (all due at 06:00 GMT) after today’s employment report. The key monthly metrics for the British economy are not anticipated to bring anything new to the table as far as the Bank of England policy outlook or the pound are concerned. However, they may determine how well sterling stacks up against its peers in the short term, some of which have [..]

Technical Analysis – EURGBP aims for a trendline breakout

Posted on August 11, 2021 at 10:18 am GMT

EURGBP closed the previous session marginally above the 20-period simple moving average (SMA) on the four-chart, but a sustainable move above the steep descending trendline, which connects the highs from July’s top of 0.8668, is required to bolster buying appetite. Although the downward slope in the SMAs keeps the odds for a trend reversal minimal, the technical oscillators are pointing to some recovery in the near term. The RSI has picked up significant pace, currently looking for a break above [..]

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