All Articles Tagged - EURGBP

Technical Analysis – EURGBP flirts with head and shoulders pattern in short term

Posted on June 10, 2020 at 12:19 pm GMT

EURGBP has been in a head and shoulders pattern over the last three weeks and a close below the neckline of the 0.8860 support could endorse this formation, suggesting a downside movement. The 20- and 40-period simple moving averages (SMAs) are acting as strong resistance lines for the bulls and the RSI is moving marginally below the 50 level. Also, the stochastic oscillator is heading south moving towards the oversold zone. Immediate support is coming from the 50.0% Fibonacci retracement level of the [..]

Technical Analysis – EURGBP sellers take control, obstructing advances

Posted on June 3, 2020 at 2:03 pm GMT

EURGBP’s recent ascent to 0.9054 seems to have stalled, reversing back down to the 0.8889 level, that being the 50.0% Fibonacci retracement of the up leg from 0.8281 to the 11-year peak of 0.9498. The current neutral demeanour within the pair is also reflected in the flattened Ichimoku lines. Directional momentum appears to have dried up with conflicting signals now emerging from the short-term oscillators. The MACD, in the positive section, has slipped below its red signal line, while the [..]

Technical Analysis – EURGBP skyrockets to new 2-month high

Posted on May 29, 2020 at 10:44 am GMT

EURGBP surged towards a fresh two-month high of 0.9055 earlier today after picking up momentum above the 0.9000 resistance. Meanwhile, in technical indicators, the RSI is hovering in overbought zone, while the blue %K line of the stochastic oscillator is turning slightly down suggesting a potential downside retracement in the near term. In case of stronger upside pressures the pair could hit the 0.9280 resistance, identified by the peak on March 25. Above that, the 0.9385 barrier from March 23 could attract attention as well. [..]

Technical Analysis – EURGBP breaks sideways pattern, but can it break out?

Posted on May 26, 2020 at 9:42 am GMT

EURGBP spent more than a month trapped in a narrow range with a lower boundary at 0.8680 and an upper end at 0.8860, before breaching it to the upside. Yet, the upside move seems to have encountered powerful resistance near the 0.9000 handle and the pair has turned lower again, igniting doubts about whether this is a real breakout. Indeed, short-term oscillators reflect fading upside momentum, with the RSI pointing down within positive territory and the MACD looking ready to [..]

Daily Market Comment – Hong Kong leads global markets lower as tensions spike

Posted on May 22, 2020 at 8:34 am GMT

Risk aversion deepens as China announces new security laws in Hong Kong Dollar and yen edge higher, global stocks sell off on fears of US retaliation Range breakouts rejected across multiple charts – S&P 500, euro, aussie, loonie Hong Kong sparks worries of new chapter in US-China tensions Global risk appetite crumbled on Friday, after China announced plans to establish an ‘enforcement mechanism’ for ‘safeguarding national security’ in Hong Kong. The news came hot on the heels of legislation to [..]

Technical Analysis – EURGBP gains some traction for a climb

Posted on May 20, 2020 at 6:47 am GMT

EURGBP appears to be finding some footing on the mid-Bollinger band since May 12. Further helping the move up are the recent bullish crossovers of the 200-period simple moving average (SMA) by the gradually rising 50- and 100-period ones. Taking a glimpse at the short-term oscillators, they reflect a pause in the positive picture. The RSI is turning up above its neutral mark while the MACD, in the positive region, has slipped below its red signal line. That said, the [..]

Technical Analysis – EURGBP bulls may stay in play in short-term

Posted on May 18, 2020 at 9:52 am GMT

EURGBP stretched Friday’s aggressive rally to a new 1 ½-month high of 0.8957, and although some weakness in the price is visible at the moment, optimism for additional gains remains as the bulls have previously successfully breached the 50-day simple moving average (SMA) while the RSI and the MACD continue to trend up in the bullish area. The 38.2% Fibonacci retracement level of 0.8986 of the latest downfall is now the nearest resistance to block upside movements. Breaking that wall, [..]

Daily Market Comment – Stocks and gold climb as Fed hopes overpower trade fears

Posted on May 18, 2020 at 8:34 am GMT

US equities set to open higher, gold soars after Fed chief’s ‘whatever it takes’ moment But escalating US-China tensions & second wave fears lurking in the background Pound sinks as investors brace for Brexit talks to fall apart Powell turbocharges gold, lifts stocks Global markets are in a good mood on Monday, with commodity currencies recovering and Wall Street set for a ~1.5% higher open, following a ‘whatever it takes’ moment from Fed Chairman Powell. In remarks published over the [..]

Technical Analysis – EURGBP restrained within confines of trading range

Posted on May 13, 2020 at 11:50 am GMT

EURGBP today was denied once again further appreciation above the ceiling of the range (0.8864), which has limited advances since April 6. The price reversed ahead of the upper boundary and seems to be building some negative momentum inside the sideways market, something also reflected within the technical indicators. The MACD, in the positive section, is weakening above its red trigger line while the RSI is declining after a deflection off the 70 level. Moreover, the stochastics are falling after [..]

Technical Analysis – EURGBP still range-bound; directional signals conflict

Posted on May 6, 2020 at 11:15 am GMT

EURGBP is currently capped by the merged 50- and 100-period simple moving averages (SMAs) in the 4-hour chart still bound within a directionless market that commenced on April 6. Further backing this view is the mostly flat joined 50- and 100-period SMAs. Turning to the short-term oscillators, they paint an unclear picture. The stochastics are rising towards the overbought section, promoting some advances. However, the MACD is marginally below its red trigger line and the zero mark, while the RSI, [..]

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