EUR / GBP has confirmed a large bearish shoulder-head-shoulder formation below 0.8861, turning the central trend to point south, for an eventual drop to 0.8609, reports the Credit Suisse team of analysts. Key statements: “EUR / GBP maintains its large“ shoulder-head-shoulder ”below medium-term support at 0.8871 / 61, where there are a series of lows […]
Tag: EURGBP
EUR / GBP looking to test multi-month lows below 0.8800
EUR / GBP is considering a test of the session lows just below the 0.8800 level. The weakness of the euro dominated on Tuesday, amid concerns about the lockdown and Italian political instability. Initially during European trading hours, the EUR/GBP It briefly fell below the 0.8800 level for the first time since May 2020. The […]
EUR / GBP falls below 0.8800 for the first time since May 2020
The pound is firm against the euro. EUR / GBP tests levels below 0.8800, confirming bearish bias. The EUR / GBP is trading below 0.8800 on Tuesday. The last time it had been there was in May 2020. The price dropped to 0.8795 and remains under pressure. The pound is rising for the second day […]
EUR / GBP falls to multi-month lows near the 0.8800 level
A combination of factors triggers new selling around EUR / GBP on Monday. The euro is affected by the ECB’s attempts to manipulate the common currency. Decreasing the odds of a BoE rate cut benefits the British pound and contributes to the pair’s selling bias. The EUR/GBP moves with a negative bias at the start […]
EUR / GBP rises towards 0.8850, sees multi-month lows below 0.8820
EUR / GBP rose even higher on Friday, but is still near recent multi-month lows. The pair has been weighed against the UK’s relatively quick vaccination efforts in January and amid delays in delivery of vaccines from the EU. The EUR/GBP It has moved higher on Friday and is currently trading around 0.8850, unable to […]
Further losses expected below 0.8835 / 25 – Commerzbank
In the opinion of Karen Jones, head of Commerzbank’s technical analysis research team, the EUR / GBP could face further setbacks on a break of 0.8835 / 25. “EUR / GBP has eroded the 200-week moving average at 0.8835 (but NOT over the close). The rallies will need to regain 0.8926, the January 18 high, […]
EUR / GBP extends recovery above 0.8850, rally appears limited
EUR / GBP gains some traction on Thursday and recovers further from multi-month lows. The imposition of new restrictions due to COVID in the UK continues to weigh on the British pound. The ECB’s comments on the strength of the euro could limit any significant gains on the crossover. The crossing EUR/GBP moves higher during […]
EUR / GBP falls to fresh multi-month lows near 0.8820 after Knot comments on the euro
The EUR / GBP has seen some continuation selling for the third day in a row on Wednesday. The ECB’s Knot’s comments hit the euro and caused the sudden drop seen during the European session. The appearance of some selling around the common currency has dragged the EUR / GBP cross to new eight-month lows, […]
EUR / GBP eyeing a test of the multi-month lows at 0.8830
EUR / GBP has fallen from the Asian session highs above 0.8900 to below 0.8850 in recent trading. No specific fundamental catalyst is clearly behind Tuesday’s decline in EUR / GBP. He EUR/GBP It has been pushing lower in recent trading, reversing the fleeting gains from the Asia Pacific session that saw the pair briefly […]
EUR / GBP could advance towards 0.8975 – Commerzbank
He EUR / GBP could extend the bounce to the 0.8975 level, according Karen Jones, Head of the Technical Analysis Research Team at Commerzbank. “The EUR / GBP sold last week and rebounded from the 200 week high at 0.8835 (on a closing basis). Note that the daily Elliott wave count suggests this is the […]
