Browsing all articles tagged with EUR/GBP

EUR/GBP D1 Technical September 14

EUR/GBP continue its upward movement and will face resistance at 0.8073,break of the trend line will indicate more bullish strength, so we recommend buy deals from the current position targeting 0.8073 and if the cable close above the trend line, the take profit will be increase to 0.8100 and 0.8150.


EUR/GBP D1 Technical August 28

On daily chart  EUR/GBP’s outlook remain neutral, As it’s staying below 0.7962 resistance, larger decline from 0.9083 is expected to resume sooner or later. Below 0.7811 should turn bias back to the downside and send the cross through 0.7755 low to 0.7692 key support level next. Though, note again that break of 0.7962 resistance will now be an early sign of reversal and should turn focus back to 0.8152 resistance instead.


EUR/GBP D1 Technical August 22

EUR/GBP’s outlook at this point, we’ll stay warily bearish as long as 0.7945 resistance holds. Below 0.7811 will target 0.7755 low first and break will confirm fall resumption for 0.7692 key support level next. However, break of 0.7945 resistance will now be an early sign of reversal and should turn focus back to 0.8152 resistance instead.


EUR/GBP D1 Technical July 23

Intraday outlook of EUR/GBP remains on the downside for the moment and current fall should still be in progress to key support level at 0.7695.Closure above 0.7830 resistance will turn outlook neutral. But break of 0.7949 resistance is needed to indicate reversal. Otherwise, outlook will remain bearish even in case of recovery.


Weekly Fundamental Analysis of Currencies

The EUR/USD is trading at 1.2225 after retracing yesterday’s increase down 0.3% against the USD after Angela Merkel suggested she has some doubt that the European project will work or not. Most of the EURO crosses are still under terrific pressure, with EURAUD and EURCAD at or within a few points of record lows; and EURGBP at levels not seen since 2008 and EURUSD at 2 years low. EUR is under pressure. News flow has been light, with some focus onGreece’s likely request for a bridge loan as it faces the August 20th €3.1bn bond salvation (held by the ECB).

Hopes surrounding a shift in tone at Fed Chairman Bernanke’s congressional testimony are likely to strengthen risk appetite at the start of the week and keep the dollar generally on the defensive. Bernanke is likely to keep all options open at this stage which may disappoint the most enthusiastic optimists and trigger a more sober market tone, but should for now at least prevent a meltdown in risk conditions. Bernanke is likely to espouse a slightly more dovish tone and may timid away from quantitative easing by looking to explore other policy avenues, especially with Treasury yields already at historic record lows.

The Bank of England considered pumping even more money into the economy at this month’s monetary policy committee meeting and has left the door open for interest rate cuts in the coming months.

Monetary policy committee (MPC) minutes released on Wednesday show that two policymakers opposed this month’s £50bn increase in quantitative easing, where the bank prints money in order to acquire government bonds from financial institutions, but overall the bank backed intervention to kick start theUK’s ailing economy.


EUR/GBP D1 Technical July 17

On daily chart  EUR/GBP remains on the downside and current fall. However, as noted before, we’ll be cautious on reversal signal as the cross meets next long term fibonacci level at 0.7782. On the upside, break of 0.7906 resistance should indicate short term bottoming and flip bias back to the upside for rebound. Fed Chairman Bernanke Testification can affect the rate of pair.


EUR/GBP D1 Technical July 11

On daily chart EUR/GBP have a support and resistance at 0.7866 and 0.7930, if the cable close below the resistance level this will show bullish strength but we sell deals until unless the resistance is broken.



EUR/GBP D1 Technical July 9

On daily chart EUR/GBP remains on the downside. The pair should likely to decline again. The pair has a resistance and support at 0.7923 and 0.7961, break of the support will be violently bearish trend.


EUR/GBP H4 Technical June 15

EUR/GBP rose further to as high as 0.8152 so far and reversal from 0.8010 extends. Further rise could be seen as consolidation from 0.7949 continues. But we’d expect upside to be limited by 38.2% retracement of 0.8505 to 0.7949 at 0.8161 and bring fall resumption eventually. Below 0.8010 should send EUR/GBP through 0.7949 to next important fibonacci level at 0.7782.if daily closure is abve 38.2 % of fibonacci retracement then this will indicate more bullish strength.


EUR/GBP H4 Technical June 6

EUR/GBP jumped to as high as 0.8139 but lost steam and retraced from there. With 4 hours MACD crossed below signal line, intraday bias is turned sideway first. Near term outlook in EUR/GBP remains unaffected. Price actions from 0.7949 is a consolidation outline and even in case of another rise, upside should be limited by 38.2%  Fibonacci retracement of 0.8505 to 0.7949 at 0.8161 and bring fall resumption eventually.