EUR / GBP is struggling to capitalize on its modest initial gains at the highest level since early June. Brexit issues and Covid-19 nervousness continue to weigh on the GBP and offer support to the pair. A stronger dollar keeps euro bulls on the defensive and limits gains, at least for now. The crossing EUR/GBP […]
Tag: EURGBP
Descending wedge breakout points to a test of the 200 SMA
EUR / GBP’s four-day rally triggers the breaking of a descending wedge on the daily chart. A move towards the 200 day SMA at 0.8767 cannot be ruled out in the medium term. The RSI has turned lower, but remains comfortably above the midline. The EUR / GBP cross has paused its four-day recovery move […]
EUR / GBP rises to one-month highs above 0.8600
Risk aversion hits the British pound. Despite the “day of liberation”, the expectations are not the best. The EUR / GBP extended the bullish run and climbed to 0.8622, reaching the highest level since June 15. The price remains above 0.8600, with the bullish tone in favor, supported by a weakness of the British currency, […]
EUR / GBP clings to modest gains around 0.8550
A combination of factors helped EUR / GBP regain some positive momentum on Friday. COVID-19 nervousness weighed on the British pound, a moderate demand in dollars benefited the euro. The EUR / GBP cross rallied around 30 pips from the daily lows and reached the upper end of its daily trading range, around the 0.8555 […]
12-month forecast at 0.83 – Danske Bank
EUR / GBP fell to 0.85 on the back of higher-than-expected inflation data and the change in trend from the Federal Reserve, analysts at Danske Bank say. They remain bullish on the pound as they view the UK more optimistically than the Eurozone. They forecast EUR / GBP at 0.83 in 12 months. Key statements: […]
EUR / GBP falls sharply on comments from BoE’s Saunders
The pound shoots up in the market due to comments from a BoE official. EUR / GBP loses fifty pips in a few minutes. EUR / GBP went from trading near 0.8570 to plummeting to 0.8510, very close to 0.8500 and Wednesday’s low. The cross abruptly changed direction from six-day highs, following comments from a […]
EUR / GBP clings near three-month lows, just above 0.8500
EUR / GBP witnessed some subsequent selling for the fourth consecutive session on Wednesday. Higher-than-expected UK CPI figures boosted the British pound and continued to exert pressure. The shared currency benefited from a weaker USD and helped limit the slide, at least for now. The crossing EUR/GBP it remained depressed for the middle of the […]
Test the descending wedge support near 0.8500
EUR / GBP falls for the fourth day in a row and is heading for 0.8500. The crossover is approaching the descending wedge support. The RSI remains bearish and points to further declines. The EUR / GBP cross is extending its four-day losing streak during the European session on Wednesday, affected by the latest rally […]
EUR / GBP cuts gains, returns near monthly lows below 0.8550
EUR / GBP remains sideways supported by 0.8530. The bias points to the downside while below 0.8630. The EUR/GBP erased gains and returned below 0.8550. Earlier on Monday it rose to 0.8566 and lost momentum after the start of the US session. At time of writing, the EUR / GBP cross sits at 0.8545, roughly […]
EUR / GBP rises to daily highs above 0.8550
EUR / GBP captures some buying near 0.8535 on Monday. The nervousness of Brexit and COVID-19 weighs on the British pound and continues to support the upward movement of the pair. The absence of releasing relevant economic data warrants caution for aggressive bulls. The crossing EUR/GBP has captured some aggressive ones during the European session […]
