All Articles Tagged - EURGBP

Technical Analysis – EURGBP in a sideways tone; still bearish in medium-term

Posted on April 29, 2020 at 8:42 am GMT

EURGBP has been moving sideways since the soft rebound on the 1-month low of 0.8680 on April 14, unable to fully recover losses made earlier in March. In the short-term, the market could maintain consolidation if the RSI keeps moving around 50 and the red Tenkan-sen line, as well as the blue Kijun-sen line, hold flat. Regarding the trend, this is likely to remain on the downside in the near-term as the 20-period simple moving average (SMA) continues to lose strength below the flat [..]

Technical Analysis – EURGBP increases but 40-SMA halts bullish actions

Posted on April 22, 2020 at 6:23 am GMT

EURGBP rose on Tuesday’s session to rest near the 50.0% Fibonacci retracement level of the up leg from 0.8275 to 0.9500 at 0.8890, which coincides with the 40-day simple moving average (SMA). Currently, the pair is trying to recoup some of last month’s losses but the bearish crossover within the 20- and 40-day SMAs seems to be a strong resistance obstacle for the bulls. Technically, the RSI indicator is flattening near the 50 level, suggesting a downside retracement again. However, [..]

Technical Analysis – EURGBP selling interest intact near 1-month low

Posted on April 15, 2020 at 9:57 am GMT

EURGBP has seen its positive momentum evaporate in the medium-term and is subsequently unable to decisively overrun above the 20- and 40-period simple moving averages (SMAs) to give some signals for an upside rally. The pair has jumped somewhat higher today, backed by the technical indicators and the upward sloping red Tenkan-sen line. higher, with backing the technical indicators and the upward sloping red Tenkan-sen line. The short-term oscillators suggest an increase in positive momentum for now. The RSI, in the negative region, is [..]

Technical Analysis – EURGBP may have more downside ahead

Posted on April 7, 2020 at 7:36 am GMT

EURGBP landed nicely near the 200-day simple moving average (SMA) last week, retracing 61.8% of the 0.8281- 0.9497 bullish rally. The pair, however, continues to look bearish despite the stabilization as the RSI seems unable to rise above its 50 neutral mark, the MACD continues to decelerate towards the negative area, while from the Ichimoku indicators, the falling red Tenkan-sen line has already forcefully crossed below the blue Kijun-sen line. A break below the 61.8% Fibonacci of 0.8745 could bring the bears back into play, shifting [..]

Technical Analysis – EURGBP extends sell-off from 11-year peak

Posted on March 31, 2020 at 6:33 am GMT

EURGBP finally found some footing near the 50.0% Fibonacci retracement level of the up leg from 0.8275 to the eleven-year high of 0.9500 at 0.8890 and questions are rising whether the market can sustain the dive from the multi-year peak. The negative slope in the MACD, which runs comfortably below its trigger line, is painting a negative story for the short-term trading. However, with the RSI aiming for a jump above the 50-neutral level, it is reasonable to believe [..]

Daily Market Comment – Stocks rally despite recessionary US data, is the bottom in?

Posted on March 27, 2020 at 8:49 am GMT

US jobless claims signal the economy is in recession, but stocks gain ~6% Is this the beginning of a new uptrend, or just a bear market rally? In FX, dollar continues to sink as liquidity pressures ease, but yen stays in demand Markets shrug off horrible US jobless numbers A record-shattering 3.3 million Americans filed for unemployment benefits last week, more than quadrupling the previous record and providing the clearest indication to date that the US is headed for a [..]

Daily Market Comment – US jobless data: A trial by fire for markets

Posted on March 26, 2020 at 8:59 am GMT

US jobless claims today will reveal how much economic damage the virus has already inflicted Make or break moment for stocks – a worse than feared number could quash the recent recovery Yen leads, aussie lags as risk aversion slowly creeps back into markets US jobless data could derail the latest recovery Economic data finally comes back into the spotlight today, as the number of Americans filing for unemployment benefits last week will give us a taste of just how [..]

Technical Analysis – EURGBP retreats from 11-year high, tests crucial support area

Posted on March 25, 2020 at 7:02 am GMT

EURGBP staged a powerful rally over the past month to touch an 11-year high near 0.9500, before retreating somewhat. The price structure still consists of higher highs and higher lows above an upside support line, as well as above the 50- and 200-day simple moving averages (SMAs), implying that the broader outlook remains positive. For that to change, the bears would need to pierce below the upside line and also drive the pair below the 0.9000 handle. Short term [..]

Technical Analysis – EURGBP retraces from 11-year high, crawls below 23.6% Fibonacci

Posted on March 20, 2020 at 9:11 am GMT

EURGBP seems to be correcting from the 11-year high of 0.9498, after a phenomenal two-day aggressive rally sent the pair to historic highs not seen since 2009. The move down past the 0.9148 support is currently encountering some hindrance from the upward sloping red Tenkan-sen line slightly lower. The short-term oscillators reflect strengthening negative momentum for now. The MACD, in the positive region, although above its red trigger line, is weakening slightly, while the declining RSI has pushed out of [..]

Technical Analysis – EURGBP unlocks 6-month high; indicators look overbought

Posted on March 16, 2020 at 2:08 pm GMT

EURGBP recorded a stunning rally over the last month towards a six-month peak of 0.9132. The Ichimoku lines and the moving averages are following this bullish action, with the 40-day simple moving average (SMA) and the 100-day SMA posting a golden cross. According to the Relative Strength Index (RSI), the market may extend its movement to overbought levels as the index is standing above 70 mark. In addition, the MACD oscillator is still moving north above its red trigger and zero [..]

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