All Articles Tagged - EURGBP

Sterling awaits UK growth numbers – Forex News Preview

Posted on August 9, 2021 at 2:10 pm GMT

British economic growth data for Q2 will hit the markets at 06:00 GMT Thursday. Forecasts point to a solid report as widespread vaccinations enabled the reopening of the economy. The Bank of England took another step towards normalization last week and if the economy continues to perform, it will probably exit asset purchases this year. Sterling seems attractive. Firing up The British economic engine started revving again in the second quarter as vaccinations went into overdrive, unchaining consumers and businesses. [..]

Technical Analysis – EURGBP tests 0.85 lower border of trading range

Posted on July 28, 2021 at 3:10 pm GMT

EURGBP is in the vicinity of the base of the 3½-month sideways market after having surrendered its recent gains up to 0.8670. The 100- and the 200-day simple moving averages (SMAs) are weighing on the pair, keeping downside pressures alive, while the 50-day SMA is promoting a more neutral bias. The Ichimoku lines are indicating that sturdy directional momentum is largely absent, while the short-term oscillators are exhibiting a slight tilt to the downside. The MACD is showing that momentum [..]

US Open Note – ECB delivers new guidance but no surprises; stocks stay on recovery mode

Posted on July 22, 2021 at 1:09 pm GMT

Risk-aversion fades Concerns over the Covid delta variant and its potential drag on global growth took a back seat on Thursday, letting risk-sensitive currencies such as the Aussie and the kiwi pare some of Monday’s damage and become the best performers of the day. Even cryptocurrencies managed to gain positive traction within this spectrum, though whether they could set up any turnaround without Elon Musk expressing his overall support for digital currencies, was still a question. Earnings optimism overshadows pandemic [..]

US Open Note – Stocks sluggish at highs and dollar returns to yesterday’s levels

Posted on July 15, 2021 at 1:15 pm GMT

Stocks ease a tad ahead of Fed Chairman Powell’s upcoming comments The poker face of the Chairman of the Federal Reserve seems to still have markets convinced that inflation is transitory, after delivering rhetoric of a cautious but dovish nature yesterday in his remarks. Nonetheless, the Fed’s goal of stronger employment is clear as are their enduring asset purchases. That said, the FOMC debate around asset-purchases will intensify moving into the year as the US economy grows stronger. It remains [..]

Technical Analysis – EURGBP completes red days around 0.8500

Posted on July 14, 2021 at 1:36 pm GMT

EURGBP is creating a bearish move in a downward sloping channel, which has been holding since April 26 and any further falls in the next sessions could pierce this pattern to the downside. The RSI has dropped below the neutral 50 mark, while the stochastic has remained in the oversold zone. More aggressive losses could take the market until the 13-month low of 0.8470 before heading towards the 0.8280 support, taken from the low on February 16. The 20- and [..]

US Open Note – Safe havens shine as risk-off sentiment spikes; euro in the green despite ECB’s policy review

Posted on July 8, 2021 at 1:29 pm GMT

Demand for safe havens resurfaces Thursday’s trading session had a bitter taste for riskier assets as investors slipped into second thoughts about how sustainably the global economy could grow in the year ahead, with global stocks plummeting, and safe havens rocketing. What has triggered this risk-off reaction in markets is not clear yet, but the reasoning could be a combination of facts from accelerating infections of the delta Covid-19 variant to the Fed’s patient tone on monetary tightening to China’s [..]

Technical Analysis – EURGBP ticks lower in declining channel

Posted on July 7, 2021 at 12:06 pm GMT

EURGBP is constructing a negative rally, following the bounce from the Ichimoku cloud. Since April 26, the market has been moving in a declining channel, and any further dips could pierce this pattern to the negative in the coming sessions. The RSI is falling below the neutral 50 level, while the stochastic is lingering in the oversold territory. If the 0.8530 support fails to hold, the attention will shift to the downside, with the price aiming for the 13-month low of 0.8470. EURGBP would then be on a path to the 0.8280 support, which was taken from the February 16 low. If the price rises above 0.8615, the 0.8670 resistance could be tested. Additional advances towards 0.8730 and the 0.8790 barrier could be seen if this critical level is broken. Because it intersects with the 200-day simple moving average (SMA), the latter is regarded a strong resistance (SMA). As the market rises, it may pave the way for a [..]

US Open Note – Dollar continues to move north after ADP release

Posted on June 30, 2021 at 1:03 pm GMT

The dollar held on to recent gains as virus concerns arose in a market already on edge before the NFP report on Friday that is considered as critical to the Federal Reserve’s monetary policy outlook. Any clues about labor market strength might put more worries on the Fed to move faster on interest rate hikes, potentially lifting the dollar, while data that falls short of expectations could put the currency at risk. In June, private businesses in the US recruited 692,000 workers, down from 978 [..]

Technical Analysis – EURGBP soars in downward sloping channel near 0.86

Posted on June 30, 2021 at 8:48 am GMT

EURGBP is forming an upside rally, following the bounce off the 0.8530 support area. However, the market has been developing within a descending channel since April 26 and a strong boost may penetrate this pattern to the upside in the next few sessions. The RSI is flirting with the 50 level to gain some momentum, though, the stochastic is suggesting a potential downside pullback as it turns down from the overbought region. If price action climbs above the 0.8600 number, [..]

US Open Note – Markets are calm ahead of data exposure later this week

Posted on June 28, 2021 at 12:41 pm GMT

Dollar flirts with 111 yen; euro retreats near $1.19 as greenback gains ground It’s been a quiet start to the week as the greenback is trying to improve its long-term structure with all the attention turning on the NFP report on Friday. The dollar is heading north just below 111.00 versus the Japanese yen, while the dollar index is finding a restrictive support at the 20-day simple moving average (SMA) near 91.50. The euro is holding near $1.19 for the fourth day in a row but [..]

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