All Articles Tagged - EURGBP

Technical Analysis – EURGBP ticks up in ascending channel

Posted on July 22, 2020 at 1:09 pm GMT

EURGBP has been in a slightly bullish channel over the last three months, rebounding on the 20-day simple moving average (SMA). The RSI is heading higher above the neutral threshold of 50, while the MACD is strengthening its momentum near its trigger line, marginally above the zero line. The 20- and 40-day simple moving averages (SMAs) are moving marginally higher as well, along with the Ichimoku lines. Immediate resistance is coming from the 0.9180 barrier, taken from the latest high, before [..]

Technical Analysis – EURGBP reclaims ascent, salvaged by 50-day SMA

Posted on July 15, 2020 at 10:15 am GMT

EURGBP recovered its positive bearing as it recently found a foothold on the rising 50-day simple moving average (SMA). The rescued hike appears to be aided by the upward slopes in the 50- and 100-day SMAs. Glancing at the short-term oscillators, it seems positive sentiment has paused. The MACD, slightly in the positive area, looks to nudge back above its red trigger line, while the RSI’s improvement in the bullish territory stalls. Moreover, the stochastic oscillator holds a bullish tone [..]

Technical Analysis – EURGBP closes below trendline; bearish bias still weak

Posted on July 8, 2020 at 7:39 am GMT

EURGBP slipped below the 20-day simple moving average (SMA) on Tuesday and closed marginally below the ascending trendline that has been strictly supporting the market since the sharp rebound in mid-February. Another negative close below that line could strengthen warnings that the weakness in the price may persist, confirming the somewhat discouraging signal the falling RSI is currently providing. To the downside, the 50-day SMA and the lower Bollinger band, both around 0.8930, may prove to be game changers if they [..]

Technical Analysis – EURGBP jumps above 0.9100, continues upward trend

Posted on June 30, 2020 at 8:00 am GMT

EURGBP levitated higher this week, continuing the pattern of higher highs and higher lows on the daily chart above an uptrend line drawn from the lows of February. The pair is also trading above all its simple moving averages (SMAs), all of which suggests that the outlook is bullish. Short-term oscillators mostly concur with that assessment, as the RSI is already positive and is hovering just below its 70 line, while the MACD is above both its zero and red [..]

Daily Market Comment – Virus resurgence haunts stocks but dollar edges lower

Posted on June 29, 2020 at 8:30 am GMT

Markets start week in risk-off mode as virus surge halts reopening plans in the US Stocks slip, but less cautious mood in FX markets as dollar and yen pull back Pound bounces off lows as Brexit talks enter intensive phase Virus fears keep Wall Street on the back foot Worries that the world could be in the midst of a second Covid-19 outbreak continued to weigh heavily on market sentiment as the second quarter almost draws to a close. Stocks [..]

How sterling became a ‘risk’ currency, and what’s next – Special Report

Posted on June 26, 2020 at 12:46 pm GMT

The British pound has become very sensitive to changes in risk sentiment lately, with Cable transforming into a ‘risk on’ – ‘risk off’ pair whose fortunes are connected more to stock market performance than UK fundamentals. As such, a better proxy for Brexit developments in this new era may be euro/sterling. Overall, downside risks seem to outweigh upside ones for the pound right now, especially given the resurgence of infections globally and intensifying Brexit uncertainty, though a powerful rebound later [..]

Technical Analysis – EURGBP crawls towards trend line, clinging to a hike

Posted on June 24, 2020 at 1:27 pm GMT

EURGBP has reversed from the upper surface of the Ichimoku cloud to the 0.9031 level, that being the 38.2% Fibonacci retracement of the up leg from 0.8281 to the 11-year high of 0.9498. Positive sentiment appears revived after the bounce on the supportive trend line pulled from the February 18 low of 0.8281. Further backing this short-term view are the Ichimoku lines and the upward slopes of the 50- and 100-day simple moving averages (SMAs). However, for now the technical [..]

Daily Market Comment – White House sends markets spinning, European PMIs bolster euro

Posted on June 23, 2020 at 8:19 am GMT

Conflicting statements from White House on China send currencies and stocks for a wild ride But markets back to square one as dust settles, still in a good mood overall Nasdaq closes at new record as US virus cases ease back down European PMIs show France back in expansion, boost euro Navarro channels his inner China hawk, then walks it back Global markets went for a wild ride overnight, after White House trade advisor Peter Navarro – probably the administration’s [..]

Technical Analysis – EURGBP retains neutral mode; approaches 0.9000

Posted on June 17, 2020 at 10:07 am GMT

EURGBP has been developing within a consolidation area since May 15, despite the upside penetration at the end of the previous month. Looking at the last few days, the pair is extending a bullish move above the Ichimoku cloud and the 23.6% Fibonacci retracement level of the up leg from 0.8670 to 0.9055 at 0.8963, heading towards the 0.9000 psychological mark. The RSI is moving sideways above the neutral threshold of 50, while the stochastic entered the overbought zone. A [..]

Flurry of UK data eyed, can the pound keep going? – Forex News Preview

Posted on June 11, 2020 at 10:21 am GMT

A flurry of UK data including GDP numbers for April will hit the markets at 06:00 GMT on Friday, and forecasts point to abysmal readings. Yet, economic data hardly move the markets anymore, so the pound’s performance will likely be shaped by a combination of Brexit news and global risk sentiment. The risks surrounding the currency seem tilted to the downside, though any potential losses may be more visible against the resurgent euro, not so much against the dollar that’s [..]

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