All Articles Tagged - EURGBP

European Open Preview – Safe havens retreat as geopolitical tensions ease; UK CPI and BoC rate decision coming up

Posted on April 18, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was practically unchanged on Wednesday, after it posted some gains on Tuesday. The Japanese yen and the Swiss franc were on the back foot as geopolitical risks were perceived as easing, while the British pound steadied somewhat after retreating yesterday. STOCKS: US markets soared for a second day in a row, as a strong earnings season and diminishing risks on the Korean Peninsula boosted risk appetite. The Nasdaq Composite [..]

Technical Analysis – EURGBP hits near 11-month low; looking bearish in the medium-term

Posted on April 13, 2018 at 10:49 am GMT

EURGBP has declined considerably after recording a four-and-a-half-month high of 0.8967 in early March. Earlier in Friday’s trading it touched 0.8627, this being its lowest since May 24 of last year, while it is currently trading not far above this trough. The Tenkan- and Kijun-sen lines are negatively aligned and the RSI is heading lower, both being supportive of a negative short-term momentum for the pair. However, the RSI has entered oversold territory below 30 and the Chikou Span also [..]

Technical Analysis – EURGBP struggles for upside momentum; looks bearish below cloud

Posted on April 6, 2018 at 6:13 am GMT

EURGBP remains in a slightly downward tilting channel, which has been in place since September 2017. The longer-term neutral to bearish outlook was recently confirmed again when the pair touched a 9-month low of 0.8668 on March 22. It has since recovered from that low but the rebound was halted after finding resistance around 0.8790. In the near term, a fresh upside push is possible with prices looking to post a second straight session of gains today. However, the RSI [..]

UK PMIs to stoke May hike odds by the Bank of England? – Forex News Preview

Posted on April 3, 2018 at 2:38 pm GMT

The UK will see the release of March PMI figures for the construction and services sectors on Wednesday and Thursday respectively, both at 0830 GMT. The figures, especially the one for the dominant-for-the-UK-economy services sector, have the capacity to steer the probability of an interest rate hike by the Bank of England when it next meets in May, consequently leading to movements in sterling pairs. The upcoming Markit/CIPS construction PMI reading is anticipated to stand at 50.8 and the one [..]

Week Ahead – US jobs and eurozone flash inflation take center stage amid other releases and RBA meeting

Posted on March 30, 2018 at 2:41 pm GMT

The upcoming week is set to be busier relative to the past one in terms of economic releases, featuring among others what is arguably the most significant release out of the US since the global financial crisis, namely the country’s jobs report. Eurozone preliminary inflation figures for March is another data set that will be closely watched by market participants, while the Reserve Bank of Australia will be holding a meeting on monetary policy. RBA set to remain on hold [..]

US Open Preview – Euro, pound erase gains; European equities cheer on trade hopes

Posted on March 27, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen held strong at 105.63, trading at five-day highs during the early European afternoon, underpinned by hopes that a trade war between the US and China could be averted based on encouraging comments made by US and Chinese authorities in recent days. Not so hawkish remarks delivered by the Atlanta’s Fed President, Raphael Bostic (a centrist voting member) pressured the pair temporarily after Bostic said in an interview with the Wall Street Journal published today that tax cuts might [..]

European Open Preview – Stocks plunge, yen rallies as trade war saga gets new chapter

Posted on March 23, 2018 at 8:55 am GMT

Here are the latest developments in global markets: FOREX: The yen was building on yesterday’s gains versus other major currencies on Friday, as rising fears of a global trade war acted as a catalyst for the currency to attract safe-haven flows. Versus the dollar, the Japanese currency recorded a 16-month high of 104.62. STOCKS: Equity indices were a sea of red in every region, as the new US tariffs aimed at China reignited concerns that the situation could escalate into [..]

European Open Preview – Euro, sterling build on gains versus the greenback; UK inflation and US-Saudi meeting eyed

Posted on March 20, 2018 at 8:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar edged higher versus a basket of currencies on Tuesday after retreating against the euro and sterling on Monday. The yen was losing considerable ground relative to other major currencies, while the antipodeans were trading not far above recent lows against the greenback. STOCKS: US markets closed significantly lower yesterday, dragged down primarily by technology stocks, as a scandal involving Facebook raised speculation that tech firms may see increased regulation [..]

Technical Analysis – EURGBP still holding in bearish channel; ready to hit lower band near 0.8685

Posted on March 19, 2018 at 1:42 pm GMT

EURGBP is edging sharply lower over the last few hours, recording a five-week low near the 0.8745 price level. It is worth mentioning that the pair has been consolidating in a downward sloping channel since September 2017. The neutral to bearish picture in the medium term looks to last for a while longer after prices failed to break above the upper channel earlier this month. In the daily chart, the negative bias in the near term is supported by the deterioration in the [..]

Technical Analysis – EURGBP still consolidating; unable to break above upper channel

Posted on March 13, 2018 at 4:00 pm GMT

EURGBP has been consolidating since September 2017 and has been stuck in a channel tilted slightly to the downside. The neutral to bearish picture in the medium term looks to last for a while longer after prices failed to break above the upper channel earlier this month. Resistance was met at around the 0.8950 region after prices hit a 3-month high of 0.8967, forcing the pair to reverse lower. The negative bias in the near term is supported by the [..]

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