All Articles Tagged - EURGBP

Technical Analysis – EURGBP spikes to 7-month high; looking more bullish

Posted on June 9, 2017 at 2:56 pm GMT

EURGBP surged to a 7-month high of 0.8858 today jumping above the key 0.8800 level for the first time since January before pulling back. After steadily declining over the past week, the RSI has sharply reversed back up again, strengthening the bullish bias in the near term. It currently stands at 65 and there is scope for further increases before crossing into overbought territory. Having come off the intra-day high, EURGBP might find resistance at the 0.88 handle should it [..]

Forex News – British elections: Pound falls sharply as hung parliament becomes a reality

Posted on June 9, 2017 at 8:31 am GMT

In yesterday’s UK general elections, the Conservative party did not come out as strong as initially thought earning a weaker representation in the House of Commons while Jeremy Corbyn, the Labour party leader who was credited for running an energetic campaign, managed to beat expectations securing enhanced parliamentary representation for his party. Projections now as votes are still being counted are that the Conservatives will be the largest party with 318 seats, eight short of a majority – the total [..]

FX Daily Outlook | 31-05-17

Posted on May 31, 2017 at 8:46 am GMT

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Forex Market Review (Asian Session) – Sterling tumbles to 5-week low versus yen after new UK election poll; kiwi jumps on NZ confidence data

Posted on May 31, 2017 at 7:13 am GMT

Sterling was one of the worst performing major currencies against the dollar as it slumped on election jitters. The aussie was briefly boosted by PMI data out of China. The kiwi jumped on business confidence data. The pound fell half a percent against the greenback in early Asian session trading after a UK election poll showed the risk of a hung parliament. A poll conducted by YouGov showed the Conservative Party might lose as many as 20 of the 330 [..]

Technical Analysis – EURGBP overbought above 0.87; outlook remains neutral

Posted on May 29, 2017 at 9:36 am GMT

EURGBP hit a 2-month high of 0.8750 on Friday, extending a two-week run of gains that took prices above the 50- and 200-day moving averages. The pair has pulled back slightly today after the RSI crossed into overbought territory just above 70 on Friday. However, the near-term bias remains strongly bullish despite the slightly weakened momentum today as the RSI is holding just below the 70 level. Should prices rise further, last week’s peak of 0.8750 is the nearest resistance [..]

Forex Market Review (European Session) – Dollar rebounds after US GDP revised up; sterling falls another leg lower

Posted on May 26, 2017 at 2:30 pm GMT

The dollar rebounded after GDP revisions showed economic growth in the US slowed less sharply in the first quarter than initially thought. Sterling extended losses versus the greenback after the US data. Oil stabilized following the post-OPEC tumble. The dollar had been sliding in European trading to sub-111 yen levels but rebounded after the release of US GDP revisions and durable goods data. The rally stalled at 111.33 yen after the final reading of the University of Michigan consumer sentiment [..]

Investment Theme – Euro rally overdone or start of new uptrend?

Posted on May 24, 2017 at 3:15 pm GMT

The euro’s relief rally following the receding threat of right- and left-wing populism in Europe after Macron’s election win in France has turned the euro to one of this year’s best performing currencies against the US dollar. The presidential election in France was seen as a key test for European political stability, as well as the fate of the European Union (EU). A victory for the far-right candidate, Marine Le Pen, could have boosted far right movements in other European [..]

Forex Market Review (European Session) – Pound hits 2-month low versus euro amid strong Eurozone data and Manchester blast; loonie at 1-month high

Posted on May 23, 2017 at 2:54 pm GMT

The euro held near six-month highs against the dollar after strong Eurozone PMI data. Sterling remained under pressure due to the events in Manchester and following disappointing data related to the UK retail sector. The US dollar was flat against a basket of major currencies. The loonie hit a one-month high. The euro gained on the back of strong Eurozone and German PMI data, providing encouraging news for the European Central Bank which is expected to start unwinding its unprecedented [..]

Forex Market Review (Asian Session) – Sterling briefly impacted by Manchester blast; gold benefits from safe haven flows

Posted on May 23, 2017 at 7:37 am GMT

Risk appetite was dampened after news of the bomb blast in Manchester that killed more than twenty people late on Monday night. Sterling weakened immediately after the reports, while safe haven assets like the yen and gold strengthened. An uncertain political climate in the US weighed on the dollar. The pound dropped against the yen and the Australian dollar during Asian trading. It was impacted less against the greenback and the euro. Pound / yen fell half a percent from [..]

Forex Market Review (European Session) – Euro boosted to new 6-month highs on Merkel remarks; sterling regains $1.30

Posted on May 22, 2017 at 2:46 pm GMT

There were some notable moves in the currency markets despite an absence of major economic data releases during the session. The euro rallied across the board on German Chancellor’s views on the weak euro. Sterling challenged the key $1.3000 level on Brexit concerns and UK election polls. The dollar index slipped to fresh year-to-date lows. The euro was one of the best major performing currencies after it rose on headlines showing the Merkel said the euro was too weak. Talking [..]

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