All Articles Tagged - EURGBP

Forex News – Euro holds gains after German Ifo business climate outperforms

Posted on July 25, 2017 at 3:16 pm GMT

Until early today analysts expected German business conditions to weaken in the near future after PMI readings published yesterday appeared lower in July. However, a few hours later, they were surprised to see the German Ifo business climate index for the same month beating their forecasts and hitting the highest level since Germany’s reunification. Companies participating in the survey (7,000 of them) felt more optimistic about their current and future business activities. Although composite PMI, which regards the combined performance [..]

FX Daily Outlook | 25-07-17

Posted on July 25, 2017 at 8:51 am GMT

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Technical Analysis – EURGBP maintains bullish bias despite minor pull back

Posted on July 25, 2017 at 7:07 am GMT

EURGBP maintains a bullish bias despite the minor correction from the July 21 high of 0.8994. The uptrend that took place from the 0.8300 handle from April 18 is still intact. Strong support was found at 0.8760. It was previously a resistance level which was broken on June 9 and consequently turned to support, which was tested several times until July 17 when the market rallied to 0.8994. There was a bullish crossover of the 50-day moving average with the 200-day MA on June [..]

Forex Market Review (European Session) – Dollar at 13-month lows; loonie gains on rising hike prospects; euro at fresh high

Posted on July 21, 2017 at 3:11 pm GMT

Barring inflation and retail sales data out of Canada, today’s European session was a rather quiet one in terms of data releases. In the absence of data during the rest of the session, forex market participants placed their orders having in mind developments from yesterday’s European Central Bank meeting, as well as developments on the US political front. The dollar index, which gauges the greenback against the currencies of six major US trading partners, fell to 93.99 today, a 13-month [..]

Forex Market Review (European Session) – Dollar at fresh 10-month low; sterling hurt by weaker-than-expected inflation

Posted on July 18, 2017 at 3:04 pm GMT

In terms of economic releases, UK inflation numbers were by far the most important release during today’s European session. The downside miss hurt sterling which posted a ten-month high versus the dollar earlier in the session. In other news, the currency markets were once again anything but deaf to political developments, pushing the dollar to new lows on the seeming inability by the Trump administration to repeal and replace Obamacare. The dollar index, a broader gauge of the US currency’s [..]

Forex News – UK inflation slows in June; sterling takes a hit on falling rate rise prospects

Posted on July 18, 2017 at 11:07 am GMT

UK CPI data for the month of June showed inflation slowing during the month. The decline in annual inflation marks the first slowdown since October of last year and led sterling to record losses relative to other major currencies. Market participants interpreted the figures as easing pressure on the Bank of England to raise rates as it convenes to set monetary policy in the beginning of August. Turning to the actual numbers, the annual inflation rate stood at 2.6% in [..]

FX Daily Outlook | 13-07-17

Posted on July 13, 2017 at 9:14 am GMT

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Technical Analysis – EURGBP change in momentum after 10-month high

Posted on July 13, 2017 at 7:18 am GMT

EURGBP hit a ten-month high of 0.8948 in yesterday’s trading before declining to finish the day 0.8% lower. The RSI indicator is theoretically in bullish territory at 57 but it is heading lower, hinting to a negative short-term momentum currently in place. Should the price rise, the area around 0.89, a potential psychological level, might act as a barrier to further advancing. Stronger gains would bring into scope the area around yesterday’s ten-month high of 0.8948 for additional resistance. If [..]

Forex news – Sterling finds support on stronger-than-expected U.K. jobs report

Posted on July 12, 2017 at 1:30 pm GMT

Sterling managed to reverse its losses made earlier during the Asian session after a batch of U.K jobs and wage data came to light on Wednesday, surprising to the upside. The question arising now is whether the Bank of England’s policymakers will synchronize their opinions on future monetary policy and therefore raise interest rates after almost a year of no change. In contrast to disappointing manufacturing, construction and industrial figures in May, jobs data out of the U.K. today came [..]

Technical Analysis – EURGBP in neutral phase; risk to upside with rising upper Bollinger band

Posted on July 10, 2017 at 8:26 am GMT

EURGBP is neutral in the short-term. The pair has been trading sideways since early June after making a substantial recovery from the April low of 0.8346. The sideways Bollinger band on the 4-hour chart is indicative of a trendless market. After rising towards the upper Bollinger band and peaking just outside the line, prices made a corrective move lower. Meanwhile, the RSI reached overbought levels just above 70 on the 4-hour chart when the market hit a high of 0.8860 [..]

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