All Articles Tagged - EURGBP

Technical Analysis – EURGBP skyrockets above MAs; bullish signals mature

Posted on September 9, 2020 at 1:00 pm GMT

EURGBP is struggling to climb above the 0.9118 barrier, as it attempts to prolong its one-week rally past a one-and-a-half-month high of 0.9130. The bullish Ichimoku lines are nurturing the ascent, which could also receive a boost from the approaching bullish crossover of the 100-period simple moving average (SMA) by the rising 40-period one. The short-term oscillators are also displaying strengthening positive momentum. The MACD, in the positive region, is increasing above its red signal line, while the RSI continues [..]

Ghost of Brexit returns to haunt sterling – Special Report

Posted on September 8, 2020 at 1:54 pm GMT

The British pound came under fire this week, after the UK threatened to undermine the divorce deal it has already signed with the EU and walk away from the trade negotiations altogether if no agreement is reached by mid-October. While this ultimatum is probably just a hardball negotiating tactic, it still sets the stage for a painful correction in sterling over the coming weeks as political uncertainty intensifies. Ultimately though, a last-minute deal is the most likely outcome. Power play [..]

Technical Analysis – EURGBP claims new 3-month low as bears keep control

Posted on September 2, 2020 at 7:21 am GMT

EURGBP started the new month on the negative side, extending its weakness below a broken dashed ascending trendline to an almost three-month low of 0.8887 on Tuesday. The next key support is expected to occur slightly lower around the 23.6% Fibonacci retracement of the 0.9497-0.8670 downleg at 0.8864, with technical indicators reflecting that bearish forces have not faded yet. The 20-day simple moving average (SMA) has crossed below the 50-day SMA, while the Stochastics are still looking for a turning [..]

Daily Market Comment – Fed’s paradigm shift ripples through markets

Posted on August 31, 2020 at 8:39 am GMT

Dollar steadies after Powell’s torpedo, support regions hold on most charts Equities sail higher as investors look for a hedge against future inflation Coming up: speech by Fed Vice Chairman and RBA policy decision Dollar hit on all sides, but still standing The implications of the Fed’s latest paradigm shift continue to reverberate through global markets. Investors seem to have taken the signal that inflation will be allowed to ‘run hot’ as credible, judging by the spike higher in market-based [..]

Technical Analysis – EURGBP tumbles below SMAs; indicators are negative

Posted on August 26, 2020 at 1:17 pm GMT

EURGBP has been in a declining movement over the last sessions, remaining well below the Ichimoku cloud and the short-term simple moving averages (SMAs). Furthermore, the RSI is heading south in the bearish territory, while the stochastic is moving lower in the oversold zone. If prices continue to head lower, support should come from the 0.8943 support, taken from the latest lows, before touching the 0.8865 barrier, registered on June 5. However, should an upside reversal take form, immediate resistance [..]

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 8:24 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

Euro rally stalls: just a pause or is a major correction in sight? – Special Report

Posted on August 18, 2020 at 10:54 am GMT

After getting whipsawed and then clobbered at the height of the virus fallout in March, the euro is fast becoming one of the strongest performing currencies of 2020. Europe’s better handling of the coronavirus outbreak – at least when compared to America – and a big rescue package that is substantially made up of grants, have helped turn the euro’s fortunes around. But as the incredible rally pauses for breath, are investors having second thoughts about the Eurozone outlook amid [..]

Technical Analysis – EURGBP creeps sideways below limiting 200-MA

Posted on August 12, 2020 at 1:18 pm GMT

EURGBP is currently attempting to jump above the heavy 200-period simple moving average (SMA), which has kept the deterioration of the pair alive. The SMAs are somewhat all flat for now, reflecting the neutral tone of the pair, but an approaching bearish cross of the 200-period SMA by the 100-period one may revive negative tendencies. The short-term oscillators suggest that positive directional momentum is strengthening. The MACD, in the negative region, has pushed above its red signal line and has [..]

Technical Analysis – EURGBP halts decline below trendline

Posted on August 5, 2020 at 7:12 am GMT

EURGBP could not sustain strength above the ascending trendline that seems to have adopted a resistance role following its downside violation, with the price retreating slightly below the 0.9000 level on Monday. The 38.2% Fibonacci of the 0.9497-0.8670 downleg came immediately to the rescue thereafter, helping the pair to rebound near 0.8980 and hold above its previous low of 0.8937, a break of which would raise concerns about the short-term upward pattern. From a technical perspective, the short-term bias is [..]

Technical Analysis – EURGBP rests near 38.2% Fibo; holds in ascending channel

Posted on July 29, 2020 at 1:28 pm GMT

EURGBP has been in an ascending channel since April 30 but is currently testing the 20-day simple moving average (SMA) and the 38.2% Fibonacci retracement level of the up leg from 0.8275 to 0.9500 at 0.9035. The momentum indicators are suggesting a possible downside pullback as the RSI is meeting the 50 level and the stochastic is moving lower after a bearish cross within the %K and %D lines. If sellers drive the pair below the 100-day SMA at 0.8940, [..]

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