All Articles Tagged - EURGBP

Technical Analysis – EURGBP marks new low below 2021 key support level

Posted on June 23, 2021 at 8:49 am GMT

EURGBP has been out of the spotlight over the past two months as the sideways pattern kept traders in a wait-and-see mode. Today’s bearish action, however, seems to be worthy of attention as the price has locked a new lower low below the 2021 key support level of 0.8541. In the four-hour chart, the technical oscillators suggest that negative forces could persist in the near term. The RSI, having failed to climb above its 50 neutral mark, is digging towards [..]

Technical Analysis – EURGBP holds in descending triangle below 0.86

Posted on June 16, 2021 at 10:01 am GMT

EURGBP has been trading in a short-term descending triangle over the last two months with the top border at the 0.8730 resistance and the lower border at the 0.8560 support. The pair is trading below the flat 20- and 40-day simple moving averages (SMAs) and within the Ichimoku cloud. The stochastic is travelling upwards after the positive cross within the %K and %D lines, while the RSI is sliding down just below the 50 level. A penetration of the triangle [..]

Virus spike, UK-EU sausage war threaten the pound’s bull run – Special Report

Posted on June 10, 2021 at 2:58 pm GMT

Post-Brexit trade frictions between Britain and the European Union never completely went away but seem to have flared up again lately. Unsurprisingly, the dispute is around the complicated Northern Ireland protocol, meaning the matter could drag on for months and potentially not be resolved without escalating into something much bigger first. If the spat leads to a tit-for-tat tariff war, it could hurt Britain’s economic recovery from the pandemic. But that’s not the only thing the pound needs to worry [..]

US Open Note – Risky currencies cheer on dollar weakness as stocks ease

Posted on June 7, 2021 at 12:54 pm GMT

Dollar fails to move up again after disappointing NFP The eagerly awaited NFP release for May on Friday was better than April’s figure, however, it disappointed investors. The unemployment rate fell to 5.8% but the greenback finished the day sharply lower. Today, dollar/yen is continuing the selling interest with weaker momentum, trading near 109.40, while the US dollar index is recovering some losses. US stock futures were slightly on the downside after a positive day on Friday. In Washington, the two main parties are sticking to their different approaches on [..]

Technical Analysis – EURGBP edges above the bearish cross within SMAs

Posted on May 26, 2021 at 6:06 am GMT

EURGBP is ticking higher above the bearish cross within the 20- and 40-day simple moving averages (SMAs). However, the market is trading in a horizontal trajectory within the upper boundary of the 0.8730 resistance and the lower boundary of the 0.8560 support. The RSI is sloping upwards above the 50 level, while the stochastic is heading upwards after the positive cross within the %K and %D lines. If the price continues to move higher, it could meet the 0.8730-0.8790 resistance area. More bullish movements could open the way for the [..]

Technical Analysis – EURGBP moves horizontally in Ichimoku cloud

Posted on May 19, 2021 at 10:12 am GMT

EURGBP has been trading in horizontal move over the last five weeks with upper boundary the 0.8730 resistance and lower boundary the 0.8560 support. The pair is fluctuating within the Ichimoku cloud and below the flat 20- and 40-day simple moving averages (SMAs). The RSI is sloping upwards marginally below the 50 level, while the stochastic is heading upwards after the positive cross within the %K and %D lines. If the price tries to surpass the SMAs and the cloud, it could meet [..]

US Open Note – Stocks stabilize with US inflation uncertainty, dollar flickers green

Posted on May 12, 2021 at 1:28 pm GMT

Market retraction pauses; US CPI shocks markets but effects fade Investors have been patiently awaiting hints from US inflation today on whether the stride of the recovery has somewhat slowed. The risk-off climate is not receiving any assistance from yields and it seems profit taking and inflation could be the premise for the latest risk-off environment. The pullback of the highs in the major US indices continues to denote the deterioration in near-term risk sentiment despite the release of [..]

Technical Analysis – EURGBP slips again below SMAs; negative bias

Posted on May 12, 2021 at 12:16 pm GMT

EURGBP has come under renewed selling pressure, falling back below its 20- and 40-day simple moving averages (SMAs), remaining slightly above the lower surface of the Ichimoku cloud. The technical indicators suggest further declines may be on the cards in the short-term. The RSI is below its neutral 50 line and is also pointing downwards. The stochastic, already in oversold zone, signals downside direction. More decreases could send the market towards the 13-month low of 0.8470 before tumbling at the [..]

US Open Note – Pound temporarily spikes on BoE policy announcement; dollar powerless

Posted on May 6, 2021 at 1:20 pm GMT

Eurozone retail sales accelerate, but caution still needed Developed markets are caught in the middle of the vaccination rollouts and monetary and fiscal stimulus the euphoria and the uncertainties surrounding the immune responses, virus variants, lockdown measures and a premature monetary tightening. In a nutshell, hopes currently are for consumers and businesses to benefit from the massive stimulus as the reopening phase wraps up in several key economies, and indeed the data seem to be reflecting this optimism, with eurozone retail sales for March [..]

Technical Analysis – EURGBP crawls towards 0.8700, clinging to a hike

Posted on April 28, 2021 at 7:59 am GMT

EURGBP has reversed back to the upper surface of the Ichimoku cloud around 0.8730. Positive sentiment appears revived after the bounce off the supportive 13-month low of 0.8470. Further backing this short-term view are the upward slopes of the 20- and 40-day simple moving averages (SMAs). However, for now the technical oscillators reflect contradicting signals. The RSI, in the positive area, remains flat in bullish territory. That said, stochastic %K line, which has deflected off the 80 level and completed [..]

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