The pair was hit by PMI data from the euro zone and the UK on Friday. But attention is likely to shift back to the diverse fate of vaccines in the region in the coming days. The EUR/GBP It is consolidating near weekly lows around 0.8650, where it remains flat on the week. The pair […]
Tag: EURGBP
EUR / GBP is approaching its five-year uptrend at 0.8588
EUR / GBP is approaching its five-year uptrend at 0.85885 as the April low of 0.8671 has been left behind, explains Karen Jones, FICC Technical Analysis Research Team Leader at Commerzbank. It further notes that the cross will remain under pressure as long as it is below the 0.8732 level. Key statements: “EUR / GBP […]
EUR / GBP clings to recovery gains around 0.8670 after PMIs
EUR / GBP registers a modest rebound from multi-month lows and breaks a five-day losing streak. The British pound is affected by disappointing UK monthly retail sales data in January. The common currency remains stable and does not appear to be affected by the mixed euro zone PMI figures. The crossing EUR/GBP has built on […]
EUR / GBP hits almost a year lows below 0.8650
The pound continues to outperform the rest of its main competitors. EUR / GBP falls for the fourth week in a row. The EUR / GBP did not stop the decline and on Thursday it reached 0.8638, reaching the lowest level since March 2020. After this it bounced and climbed to the 0.8650 area. The […]
EUR / GBP targets 0.85 with pound strengthened by vaccination – Danske Bank
EUR / GBP has continued to decline, helped by a rapid vaccination process in the UK and by the Bank of England (BoE), which ruled out negative rates for now, economists at Danske Bank note. They believe that the British pound will strengthen this year driven in particular by the faster vaccination process and they […]
Plummets to fresh multi-month lows around 0.8670 region
EUR / GBP has fallen under new selling pressure on Thursday and has reached new multi-month lows. The technical setup remains tilted in favor of the bears and supports the prospects for a further decline. The EUR / GBP cross has faced rejection near the round 0.8700 level and witnessed a sharp intraday turn on […]
Falls to fresh multi-month lows below 0.8700 level
EUR / GBP is witnessing some selling for the fourth day in a row. The formation of a descending channel points to a well-established downtrend. Any recovery attempt could be seen as a selling opportunity and remain limited. The EUR / GBP cross remains under pressure for the fourth day in a row on Wednesday […]
Bears target 16-month support
EUR / GBP remains under pressure near the intraday low, falling for the fourth day in a row. The UK CPI exceeds market expectations in January. Staying below the 61.8% Fibonacci retracement suggests a further decline towards key support. The corrective pullback can gain support from an oversold RSI. The EUR / GBP cross attacks […]
EUR / GBP hits fresh multi-month lows below 0.8700 level
EUR / GBP has fallen below 0.8700 for the first time since May 2020 in recent trading. The pair is hit again by the strong performance of the GBP amid ongoing vaccination / reopening optimism. The EUR/GBP it has been under selling pressure in recent trades, likely as a result of increased trading volumes. The […]
EUR / GBP moves away from multi-month lows and rises to the 0.8730-35 region
EUR / GBP registers a modest rebound from the 0.8700 level, at multi-month lows. The common currency gets a little boost after the release of the optimistic ZEW survey results. Optimism about the rapid vaccination in the UK could continue to prop up the British pound and limit the rise in the pair. A modest […]
