All Articles Tagged - EURGBP

Technical Analysis – EURGBP’s clear direction curbed as recent gains fade

Posted on December 9, 2020 at 1:16 pm GMT

EURGBP is receding beneath the 50-day simple moving average (SMA) at 0.9012, residing between the converging 100- and 200-day SMAs. The conflicting SMAs seem to be developing a somewhat sideways bearing, promoting the near-term directionless market. The opposing short-term oscillators echo the confusion in directional momentum. The negatively charged stochastic oscillator and the dipping RSI, barely above the 50 mark, are favouring moves to the downside. Yet, the MACD, which is holding above the zero line and its red trigger, [..]

Daily Market Comment – Wall Street hits new records as ‘bad news’ is good news

Posted on December 7, 2020 at 9:42 am GMT

Disappointing US jobs report fuels hopes for Congressional stimulus deal Stocks hit new highs, dollar stabilizes, big week ahead for markets Sterling suffers amid reports of insufficient Brexit progress Why has the dollar been ravaged lately? Short answer is inflation Bad news is good news in stimulus game Wall Street sailed to a new record high on Friday despite a disappointing US employment report, as investors bet that the soft numbers would put pressure on politicians in Congress to deliver [..]

Technical Analysis – EURGBP spikes to 3-week high; stochastic turns south

Posted on December 2, 2020 at 12:42 pm GMT

EURGBP skyrocketed to a new three-week high of 0.9043 earlier today, peaking slightly above the 61.8% Fibonacci retracement level of the down leg from 0.9148 to 0.8860 at 0.9037. The MACD oscillator is holding well above its trigger and zero lines, suggesting more gains, though the fast stochastic oscillator has already posted a bearish crossover within its %K and %D lines in the overbought territory, indicating a possible downside retracement. A close above the 61.8% Fibonacci could take the price towards the 0.9050-0.9070 resistance and then up to the [..]

Technical Analysis – EURGBP maintains gradual decline; price capped by 50-MA

Posted on November 25, 2020 at 3:57 pm GMT

EURGBP’s recent improvements were curbed by the falling 50-period simple moving average (SMA), redirecting the price southwards. The pair looks to apply significant pressure once more on the 0.8860-0.8873 critical support base. All SMAs are downward-sloping and maintain a predominantly bearish heading, promoting further declines in the pair. The short-term oscillators suggest positive directional momentum is fading. The MACD, in the negative region, is rising above its red trigger line but is finding it difficult to stretch above zero. The [..]

Technical Analysis – EURGBP stuck within 0.8900 zone and descending channel

Posted on November 17, 2020 at 8:56 am GMT

EURGBP remains stuck between the 20- and 200-day exponential moving averages (EMA) and the 0.8900 territory following the rebound at the bottom of a tight descending channel last week. The momentum indicators reflect a bearish-to-neutral risk as the RSI continues to hover slightly below its 50 mark and the negative MACD is set to deviate above its red signal line. A decisive rally above the channel’s upper boundary currently seen at 0.9030 would be ideal to develop positive sentiment and push resistance [..]

Technical Analysis – EURGBP recovers from fresh 6-month low

Posted on November 11, 2020 at 10:38 am GMT

EURGBP touched a fresh six-month low of 0.8860 today after the strong sell-off below the 0.8940 barrier. The MACD oscillator is falling below its trigger and zero lines with strong momentum, while the RSI is moving sideways near the 30 level. The 20- and 40-period simple moving averages (SMAs) are heading south after they posted a bearish crossover. Immediate support could come from the six-month trough of 0.8860 before falling further towards the inside swing high of May 4 at [..]

Technical Analysis – EURGBP downtrend converges to 200-EMA

Posted on November 4, 2020 at 3:02 pm GMT

EURGBP has been steadily swinging downwards within a tight descending channel since mid-September, bringing the 200-day exponential moving average (EMA), which successfully curbed negative movements in the same month, back under the spotlight. There is a potential for an upside correction in the short term as the price is hovering around the lower Bollinger band and the Stochastics are sloping upwards after posting a bullish cross within the oversold area. However, unless the 20- and 50-day EMAs, and the upper [..]

Technical Analysis – EURGBP gains some ground in trading range

Posted on October 29, 2020 at 2:49 pm GMT

EURGBP is jumping considerably higher over the last 4-hour session, touching the 20- and 40-period simple moving averages (SMAs). The stochastic oscillator is confirming a bullish crossover, however, the MACD oscillator is moving with weak momentum, endorsing the consolidation view in the bigger picture. The pair is holding within the 0.9005 support and the 0.9148 resistance. In the case where the price surpasses the SMAs, immediate resistance could come from the 23.6% Fibonacci retracement level of the downward wave from 0.9290 to 0.9005, at 0.9073. Above that, the 0.9105 level and the 38.2% Fibonacci [..]

Technical Analysis – EURGBP plunges in consolidation area below 0.91

Posted on October 21, 2020 at 1:37 pm GMT

EURGBP is sharply decreasing in the 4-hour chart, touching the 23.6% Fibonacci retracement level of the down leg from 0.9290 to 0.9005 at 0.9073. Over the last month the price has been trading within a trading range with the 50.0% Fibonacci of 0.9148 as the upper boundary and the 0.9020 support as the lower boundary. Technically, the stochastic oscillator is moving lower, heading towards the oversold zone, while the MACD oscillator posted a bearish crossover with its trigger line in [..]

Daily Market Comment – Sentiment sours as stimulus talks stall, virus cases surge

Posted on October 15, 2020 at 8:05 am GMT

Stocks retreat, dollar goes nowhere as Mnuchin plays down pre-election stimulus European covid cases go through the roof, but euro stands its ground UK signals it won’t abandon Brexit talks this week, pound jumps Aussie slides after RBA Governor fuels speculation for rate cut Stimulus talks stall, markets fall Global equity markets continue to correct lower, with the major US indices sliding yesterday and Asian bourses being a sea of red on Thursday, as the chances of a US relief [..]

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