EURGBP

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Technical Analysis – EURGBP gains some traction for a climb

Posted on May 20, 2020 at 6:47 am GMT

EURGBP appears to be finding some footing on the mid-Bollinger band since May 12. Further helping the move up are the recent bullish crossovers of the 200-period simple moving average (SMA) by the gradually rising 50- and 100-period ones. Taking a glimpse at the short-term oscillators, they reflect a pause in the positive picture. The RSI is turning up above its neutral mark while the MACD, in the positive region, has slipped below its red signal line. That said, the [..]

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Technical Analysis – EURGBP bulls may stay in play in short-term

Posted on May 18, 2020 at 9:52 am GMT

EURGBP stretched Friday’s aggressive rally to a new 1 ½-month high of 0.8957, and although some weakness in the price is visible at the moment, optimism for additional gains remains as the bulls have previously successfully breached the 50-day simple moving average (SMA) while the RSI and the MACD continue to trend up in the bullish area. The 38.2% Fibonacci retracement level of 0.8986 of the latest downfall is now the nearest resistance to block upside movements. Breaking that wall, [..]

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Daily Market Comment – Stocks and gold climb as Fed hopes overpower trade fears

Posted on May 18, 2020 at 9:23 am GMT

US equities set to open higher, gold soars after Fed chief’s ‘whatever it takes’ moment But escalating US-China tensions & second wave fears lurking in the background Pound sinks as investors brace for Brexit talks to fall apart Powell turbocharges gold, lifts stocks Global markets are in a good mood on Monday, with commodity currencies recovering and Wall Street set for a ~1.5% higher open, following a ‘whatever it takes’ moment from Fed Chairman Powell. In remarks published over the [..]

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Technical Analysis – EURGBP restrained within confines of trading range

Posted on May 13, 2020 at 12:34 pm GMT

EURGBP today was denied once again further appreciation above the ceiling of the range (0.8864), which has limited advances since April 6. The price reversed ahead of the upper boundary and seems to be building some negative momentum inside the sideways market, something also reflected within the technical indicators. The MACD, in the positive section, is weakening above its red trigger line while the RSI is declining after a deflection off the 70 level. Moreover, the stochastics are falling after [..]

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Technical Analysis – EURGBP restrained within confines of trading range; SMAs uncertain  

Posted on May 13, 2020 at 11:50 am GMT

EURGBP today was denied once again further appreciation above the ceiling of the range (0.8864), which has limited advances since April 6. The price reversed ahead of the upper boundary and seems to be building some negative momentum inside the sideways market, something also reflected within the technical indicators. The MACD, in the positive section, is weakening above its red trigger line while the RSI is declining after a deflection off the 70 level. Moreover, the stochastics are falling after [..]

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Technical Analysis – EURGBP still range-bound; directional signals conflict

Posted on May 6, 2020 at 11:15 am GMT

EURGBP is currently capped by the merged 50- and 100-period simple moving averages (SMAs) in the 4-hour chart still bound within a directionless market that commenced on April 6. Further backing this view is the mostly flat joined 50- and 100-period SMAs. Turning to the short-term oscillators, they paint an unclear picture. The stochastics are rising towards the overbought section, promoting some advances. However, the MACD is marginally below its red trigger line and the zero mark, while the RSI, [..]

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Technical Analysis – EURGBP in a sideways tone; still bearish in medium-term

Posted on April 29, 2020 at 8:43 am GMT

EURGBP has been moving sideways since the soft rebound on the 1-month low of 0.8680 on April 14, unable to fully recover losses made earlier in March. In the short-term, the market could maintain consolidation if the RSI keeps moving around 50 and the red Tenkan-sen line, as well as the blue Kijun-sen line, hold flat. Regarding the trend, this is likely to remain on the downside in the near-term as the 20-period simple moving average (SMA) continues to lose strength below the flat [..]

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Technical Analysis – EURGBP increases but 40-SMA halts bullish actions

Posted on April 22, 2020 at 6:23 am GMT

EURGBP rose on Tuesday’s session to rest near the 50.0% Fibonacci retracement level of the up leg from 0.8275 to 0.9500 at 0.8890, which coincides with the 40-day simple moving average (SMA). Currently, the pair is trying to recoup some of last month’s losses but the bearish crossover within the 20- and 40-day SMAs seems to be a strong resistance obstacle for the bulls. Technically, the RSI indicator is flattening near the 50 level, suggesting a downside retracement again. However, [..]

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Technical Analysis – EURGBP selling interest intact near 1-month low

Posted on April 15, 2020 at 9:57 am GMT

EURGBP has seen its positive momentum evaporate in the medium-term and is subsequently unable to decisively overrun above the 20- and 40-period simple moving averages (SMAs) to give some signals for an upside rally. The pair has jumped somewhat higher today, backed by the technical indicators and the upward sloping red Tenkan-sen line. higher, with backing the technical indicators and the upward sloping red Tenkan-sen line. The short-term oscillators suggest an increase in positive momentum for now. The RSI, in the negative region, is [..]

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Technical Analysis – EURGBP may have more downside ahead

Posted on April 7, 2020 at 7:36 am GMT

EURGBP landed nicely near the 200-day simple moving average (SMA) last week, retracing 61.8% of the 0.8281- 0.9497 bullish rally. The pair, however, continues to look bearish despite the stabilization as the RSI seems unable to rise above its 50 neutral mark, the MACD continues to decelerate towards the negative area, while from the Ichimoku indicators, the falling red Tenkan-sen line has already forcefully crossed below the blue Kijun-sen line. A break below the 61.8% Fibonacci of 0.8745 could bring the bears back into play, shifting [..]

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