Technical Analysis – EURGBP bearish bias enhanced by capping Ichimoku cloud

EURGBP's positive impetus, which evolved from the vicinity of the 200-period simple moving average (SMA) at 0.8406, is trading around the 100-period SMA at 0.8473 after fading from the lower surface of the Ichimoku cloud. The cloud has revived the more than one-week decline from the seven-and-a-half-month peak of 0.8618, something which the rolled over 50-period SMA is also endorsing.

The Ichimoku lines are suggesting that downside risks remain active, while the positive message from the short-term oscillators appears somewhat shaky. The MACD, in the negative region, is climbing above its red trigger line, while the RSI is flirting with the 50 neutral threshold. The positive charge of the stochastic oscillator is also in question as the stochastic lines are residing at the 80 overbought mark.

If positive forces continue to evaporate and the pair retreats beneath the 100-period SMA at 0.8473, sellers may then encounter downside friction around the red Tenkan-sen line at 0.8443 and the 0.8433 level, which is the 50.0% Fibonacci retracement of the up leg from 0.8249 until 0.8618. Remaining skewed to the downside, the bears could then challenge the tough support section from the 200-period SMA at 0.8406 until the 61.8% Fibo of 0.8390, an area that also includes the valid trough of May. Sinking beneath the 61.8% Fibo mark would boost the descent in the pair, with the price weighing on the 0.8360-0.8371 support border that stretches back to mid- April.

In the positive scenario, initial heavy resistance exists between the cloud’s lower surface at 0.8492 and the 0.8505 level. Should the bulls push even higher, they may then tackle a resistance zone linking the 50-period SMA at 0.8519 with the 0.8533 barrier. From here, if positive developments in the pair endure and pilot beyond the 0.8555 mark, traders’ attention could then shift to the resistance band, moulded by the 0.8611 inside swing low in September 2021 and the October 2021 high of 0.8623.

As things stand, EURGBP gains are being curbed by the Ichimoku cloud, while downside risks linger in the background. For another deep retracement to be avoided, the bulls would need to thrust the price north of the 0.8533 high.

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。