EUR / GBP faced rejection near 0.8600 and trimmed strong recovery gains on Friday. Expectations of an aggressive change by the BoE triggered a short hedging move around the pound. A modest pullback in the dollar extended some support to the euro and could help limit deeper losses. The EUR/GBP It operates with a slight […]
Tag: EURGBP
Falls below 0.8600 level, new daily lows
The EUR / GBP sees some selling on Wednesday and returns the gains of the previous day. The formation of a descending triangle supports the prospects for further weakness in the short term. A sustained break below the horizontal support at 0.8560 will reaffirm the bearish outlook. The EUR / GBP cross encountered renewed selling […]
Bulls Make Another Attempt To Take Advantage Of Momentum Above The 0.8600 Level
EUR / GBP regained positive traction on Tuesday amid a rebound in demand for the euro. The troubles around COVID-19 and Brexit keep GBP bulls on the defensive and support the pair’s upward move. The EUR / GBP cross has recovered around 25 pips during the European session on Tuesday and has jumped back above […]
EUR / GBP looks to take advantage of momentum above 0.8600 level
EUR / GBP gains some positive traction on Monday and breaks a two-day losing streak. The problems of COVID-19 and Brexit continue to weigh on the British pound and offer support to the crossing. A moderate demand for the USD benefits the euro, which also provides an additional boost to the cross. The EUR / […]
Drops to week-long lows, eyeing descending triangle support
EUR / GBP added to the losses overnight and remained depressed for the second day in a row. Weakness below the horizontal support at 0.8560 will confirm a breakout of the descending triangle. Only a sustained move past the 0.8640-45 region will negate the short-term bearish outlook. The crossing EUR/GBP extended the previous day’s rejection […]
EUR / GBP bounces away from lows, finds some support near 0.8600
The EUR / GBP witnessed a trend reversal on Thursday and fell more than 40 pips from the one-week highs. The renewed selling bias in the USD caused a short hedging move around the GBP and put some pressure. The latest monetary policy decision by the ECB failed to impress the bulls or provide support […]
Bulls Await Descending Triangle Breakout, Focus Remains on ECB
EUR / GBP climbs to a week and a half highs ahead of Thursday’s ECB meeting. The technical setup favors the bulls and supports the prospects for additional earnings. The EUR / GBP cross has built on this week’s positive move and gained traction for the fourth day in a row on Thursday. Momentum has […]
EUR / GBP rises to one-week highs after EU Šefčovič comments
The emergence of new selling around the British pound pushed EUR / GBP to a week high. The EU-UK commission for the Northern Ireland protocol, Brexit nervousness weighed heavily on the British pound. A sustained move beyond a downtrend line will set the stage for additional gains. The crossing EUR/GBP it caught some aggressive offers […]
EUR / GBP consolidates in a range around the 0.8600 area
EUR / GBP fell after comments from Haldane, an official at the Bank of England. The pound is constrained by concerns about the coronavirus and the implications of Brexit. A tone of caution predominates in the run-up to Thursday’s meeting of the European Central Bank. The EUR / GBP is moving without a clear direction […]
EUR / GBP: Outperformance could prove difficult for the pound in the coming weeks
There is scope for the pair EUR/GBP approaches 0.84 by the end of the year, according to analysts from Rabobank. They don’t expect a breakout anytime soon. They note that against a background of optimism regarding the outlook for the Eurozone and the emergence of some potential headwinds in the UK, outperforming could prove difficult […]
