EUR / GBP gains traction for the second day in a row on Monday. Momentum stops near a short-term downtrend line. Mixed oscillators warrant caution before opening aggressive bull positions. The EUR / GBP cross has built on Friday’s modest recovery from the 0.8535-30 region at a one-year lows, and has gained some traction on […]
Tag: EURGBP
EUR / GBP to ease downward pressure with a close above 0.8603 – Commerzbank
EUR / GBP is losing bearish momentum, explains Karen Jones, Technical Analysis Research Team Leader at Commerzbank. She expects the cross to correct higher if it closes above the 20-day moving average at 0.8603. Key statements: “EUR / GBP hit a fresh low of 0.8533 last week, which was again not confirmed by the daily […]
EUR / GBP approaches a one-year low and returns above 0.8550
EUR / GBP again presses the 0.8550 support. Euro and pound fall against the dollar on Friday. EUR / GBP fell in the European session to 0.8534, just above the one-year low that reached 0.8532 on Thursday. Then it came back about 0.8550 and it is trading at 0.8555, in neutral ground for the day, […]
EUR / GBP flirting with multi-month lows in the mid-zone of 0.8550 as European vaccine woes advance
EUR / GBP is flirting with multi-month lows at 0.8550, but has yet to convincingly break below support around 0.8540-0.8550. Neither the Bank of England’s rate decision nor the comments by ECB President Lagarde have given much momentum. The EUR/GBP it is trading lower by about 0.2% or about 15 pips on Thursday, and the […]
EUR / GBP will eventually break below key 0.8520 support – Credit Suisse
The EUR / GBP rally turned out to be brief, to say the least, and the focus of attention has quickly reverted to the key Fibonacci supports at 0.8549 / 20, Credit Suisse analysts say. They point out that the favored scenario is that of a downward break. Key statements: “The rebound in EUR / […]
EUR / GBP recovers after falling to 13-month lows, holding steady around 0.8565-70
EUR / GBP has quickly recovered intraday losses to the lowest level since February 2020. A combination of factors limits the British pound and offers some support to the cross. The market’s focus remains on the Bank of England’s upcoming monetary policy meeting on Thursday. The crossing EUR/GBP has reversed an initial drop in the […]
EUR / GBP capped below the 21-day SMA near 0.8650
The EUR / GBP has been choppy on Tuesday, oscillating between 0.8560 and 0.8640 and vice versa. The 21-day SMA at 0.8620 appears to provide crucial resistance. Concerns about the launch of the vaccine in the eurozone likely encouraged bears to sell off the initial move for the session. It has been a very hectic […]
Bulls look to take control amid the breakout of a downtrend line
EUR / GBP gains strong traction on Tuesday and breaks a week-long range. The setup supports the prospects for further gains towards the intermediate resistance at 0.8665. The emergence of some buying should help limit the decline near the round 0.8600 level. The EUR / GBP cross has continued to move higher during the first […]
EUR / GBP stuck within a range ahead of the week’s key events
EUR / GBP has been swinging on Monday, but continues to trade within last week’s 0.8550-0.8600 range. All eyes will be on this week’s Bank of England rate decision and comments from ECB officials, which will take place on Thursday. The EUR/GBP It fell to lows below 0.8560 at the start of the European session, […]
EUR / GBP rises further towards the 0.8600 level
The EUR / GBP has moved above its recent intraday trading range and is considering a test of 0.8600. The catalysts for the move are unclear, although there has been plenty of news to be aware of. Midway through the European morning session, the EUR/GBP it experienced a buy attack that pushed it towards the […]
