All Articles Tagged - EURGBP

US Open Note – Stocks resume gains; oil pushes higher

Posted on February 2, 2021 at 1:59 pm GMT

Dollar, stocks and oil advance even higher One of the main highlights today is the rally in the US dollar, which is still moving higher, near 105.00 versus the Japanese yen. The dollar index is slightly up, while US stocks were re-energized as investors awaited a slew of earnings from corporate America including Exxon Mobil, Amazon.com and Alphabet. The US economy will return to pre-pandemic levels even without another shot of stimulus, announced a study of the Congressional Budget Office. This will endorse the Republicans’ that there is no need for one [..]

US Open Note – Dollar advances higher, euro dips

Posted on February 1, 2021 at 1:56 pm GMT

Next US relief bill still in focus; Dollar and silver surge One of the major highlights of the current week is the effort to pass the next relief bill in the US. Ten Republican Senators have drawn up a $600 billion alternative to President Biden’s $1.9 trillion proposal. The dollar index is 0.32% up today and dollar/yen has a noteworthy upside rally for the fourth day in a row, heading towards 105.00. US stocks reversed higher again while silver surged by 8.62% [..]

Technical Analysis – EURGBP’s picture dampens with dive under key support base

Posted on January 20, 2021 at 12:13 pm GMT

EURGBP plunged today underneath the critical support foundation of 0.8860-0.8884 that had defended the positive structure since the end of May 2020. The falling 50- and 100-period simple moving averages (SMAs) are endorsing further deterioration in the pair, while the 200-period SMA retains a more neutral tone. The short-term oscillators are also demonstrating a minor rise in negative momentum. The MACD, some distance below zero, has slipped back underneath its red trigger line, while the declining RSI has reached the [..]

Technical Analysis – EURGBP meets crucial support band after six negative days

Posted on January 15, 2021 at 8:35 am GMT

EURGBP is trying to balance its weekly negative charge near a familiar support zone of 0.8865 and at the bottom of its seven-month old range following the pullback below its exponential moving averages (EMAs). Given former upside reversals in the region, which coincides with the 50% Fibonacci retracement of February’s rally, and the Stochastics’ bullish cross in the oversold area, a rebound in the price could be a likely scenario in the short run. Note that the market action has been [..]

Technical Analysis – EURGBP plummets to 7-week low; strongly negative

Posted on January 13, 2021 at 10:39 am GMT

EURGBP is plunging to a new seven-week low, below the 0.9000 handle, continuing the selling interest from the 0.9217 resistance. The bearish picture in the very short-term is further supported by the MACD, which is falling below its trigger line. The stochastic oscillator is holding in the oversold zone and is failing to make an attempt higher. Should prices reverse lower, immediate support could come at 0.8890 before taking the market down to 0.8865. A drop below this area would [..]

Technical Analysis – EURGBP’s upside drive dwindles, nourishing range

Posted on December 30, 2020 at 11:43 am GMT

EURGBP remains consolidated between the confines of 0.8860 and 0.9229, with the pair currently testing the flattening simple moving averages (SMAs). The horizontal SMAs are promoting the sideways picture, while the static Ichimoku lines are reflecting the oxygen deprived directional momentum. Looking at the short-term oscillators, the conflicting signals in sentiment are apparent. The MACD is slightly above zero but below its red trigger line, while the RSI has dipped below its neutral threshold. Yet, the stochastic oscillator maintains a [..]

Daily Market Comment – Stocks cheer Trump’s stimulus U-turn; pound muted after ‘thin’ Brexit deal

Posted on December 28, 2020 at 9:40 am GMT

President Trump makes surprise U-turn on virus aid bill, averts government shutdown ‘Thin’ Brexit deal leaves many unanswered questions, pound unimpressed Equities buoyed, dollar pressured, gold jumps Relief as US stimulus and spending bill becomes law Trading for the last week of 2020 got off to a bullish start after President Trump unexpectedly signed into law the Covid-19 relief and funding bill late on Sunday after repeatedly refusing to do so. The $2.3 trillion package, which includes a fresh round [..]

Technical Analysis – EURGBP set to give up some ground after sharp rebound

Posted on December 21, 2020 at 11:42 am GMT

EURGBP is retracing the sharp increase that followed the positive large-gap open earlier today after failing to extend gains beyond 0.9200. The price has significantly stretched above the upper Bollinger band and the RSI is set to exit the overbought zone. Hence, some weakness could be possible in the short run, and with no key support insight, the nearest obstacle to curb downside movements could be the 0.9135 – 0.9150 area, which encapsulates the 61.8% Fibonacci level of the 0.9228 – [..]

Daily Market Comment – Dollar whipsaws on Fed’s dovish guidance, upbeat forecasts

Posted on December 17, 2020 at 9:56 am GMT

Fed commits to current pace of QE until it sees “substantial further progress” Dollar jumps on modest tweak, rosy outlook before being pummelled by dovish Powell Pound continues to soar on Brexit deal optimism, euro climbs new highs too Aussie and kiwi on a roll as strong data, US stimulus hopes maintain bullish momentum Fed disappoints before Powell has to reassure The Federal Reserve pledged on Wednesday to keep buying bonds at the existing pace of $120 billion per month [..]

Technical Analysis – EURGBP stalls decline with bounce off lower band at 0.9005

Posted on December 16, 2020 at 9:22 am GMT

EURGBP’s neutral-to-bullish picture seems to be deteriorating as the price dipped under the 100-period simple moving average (SMA), touching the mid-Bollinger band at 0.9005. In spite of the rising 100-period SMA, the 200-period SMA is endorsing a more neutral tone, while the slowing upward pace in the 50-period SMA is sponsoring a fading positive picture. The short-term oscillators are suggesting mixed signals in directional momentum. The MACD is plunging below the zero mark, distancing itself from its red trigger line, [..]

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