Market Cap:
$240B
BTC Dominance:
65.66%
btc:
$8,739.29
eth:
$186.13
xrp:
$0.28
Advertise

EURGBP analysis – Pair climbs slightly higher to 0.0.9100

The EURGBP pair moved slightly higher in overnight trading. The pair moved from a low of 0.9027 and reached an intraday high of 0.0.9100.

27 August 2019, OctaFX – Investors will focus on Europe, where a number of countries will release important economic data. Germany will release the second preliminary reading of the second-quarter growth. Investors expect the data to show that the economy expanded by an annualized rate of 0.4%. This will be lower than the previously-released 0.7%.

On a QoQ basis, the economy is expected to have shrunk by -0.1%, which will be lower than the expected 0.4%. In France, investors will receive the consumer and business confidence data for August and from Sweden, they will receive the PPI and trade data.

EURGBP technical analysis

On the four-hour chart, the price is slightly below the 50% Fibonacci Retracement level while the RSI has moved from the oversold level of 24 to the current 46. The pair will likely move to the 50% Fibonacci level of 0.9100 and then resume the downward trend.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

EURGBP analysis – Pair tumbles to fresh 2-week lows near 0.9100

The continuation of the buying pressure around the Sterling is now dragging EURGBP to fresh 2-week lows in the 0.9100 neighbourhood.

16 August 2019, GKFX – The downside pressure around the European cross has intensified in past hours and is now receding for the fifth consecutive session to the boundaries of the key support at 0.91 the figure, extending at the same time the rejection from 2019 tops in the 0.9320 area recorded on Monday.

In fact, the British Pound has quickly regained poise in response to rising hopes of a Brexit deal. According to the latest news, more MPs appear to be backing a ‘no confidence’ vote sponsored by Labour leader J.Corbyn against PM B.Johnson. A favourable outcome of this motion could put Corbyn as interim PM, stop the UK to leave the EU without a deal and even open the door to a potential second referendum.

Also helping the upside momentum in the British Pound, this week’s UK calendar surprised to the upside following the releases of the labour market, inflation figures and retail sales.

What to look for around GBP

The outlook on the British Pound has improved considerably in the last couple of sessions, always helped by unexpected hopes of a Brexit deal, which at the same time ‘needs’ Labour leader J.Corbyn to step up as interim PM after a successful ‘no confidence’ vote against PM B.Johnson.

Aside from this political issue, the Irish backstop remains the exclusive obstacle for the resumption of talks between London and Brussels, although the subject appears relegated in light of the continuation of preparations for the ‘hard-divorce’ case. Back to the UK economy, this week’s releases brought in some respite to the Sterling following latest poor advanced Q2 GDP figures.

At its last meeting, the BoE kept the monetary conditions unchanged, although it refuses to factor in a ‘no deal’ scenario in its projections. The BoE still sees a ‘soft Brexit’ outcome and reiterated that rates are seen increasing gradually in order to bring inflation to the bank’s target.

EURGBP technical analysis

The cross is retreating 0.87% at 0.9107 and a drop below 0.9088 (low Jul.31would expose 0.9010 (55-day SMA) and then 0.8891 (monthly low Jul.25). On the flip side, the next up barrier is located at 0.9324 (2019 high Aug.12) followed by 0.9411 (monthly high Oct. 2009) and finally 0.9804 (all-time high December 2008).

Disclaimer

This article was provided by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

EURGBP analysis – Pair corrects lower after surpassing 0.9300

The now better mood around the British Pound is dragging EURGBP to the mid-0.9200s following the opening bell in the Old Continent on Monday.

12 August 2019, GKFX – The European cross met a wave of selling orders soon after it recorded fresh 2019 highs in the vicinity of 0.9330 during early trade.

However, renewed buying interest in the Sterling coupled with increasing selling pressure in the shared currency are dragging the cross back to the 0.9250 region.

Looking at the broader picture, there is now news regarding Brexit other than odds for a ‘no deal’ scenario by end of October keeps gathering traction.

In the docket, the German ZEW survey is due tomorrow along with the UK labour market report. Later in the week, UK Retail Sales and inflation figures should keep the attention on the Pound.

What to look around for GBP

The outlook on the British Pound looks increasingly fragile pari passu with rising odds for a Brexit ‘no deal’ on October 31. In the meantime, the Irish backstop remains the exclusive obstacle for the resumption of talks between London and Brussels, although the subject appears relegated in light of preparations for the worst-case scenario.

Back to the UK economy, latest poor advanced Q2 GDP figures added to the already gloomy panorama from UK fundamentals, keeping the sour prospect for the economy and the currency unchanged.

At last week’s BoE event, the central bank kept the monetary conditions unchanged, although it refuses to factor in a ‘no deal’ scenario in its projections. The BoE still sees a ‘soft Brexit’ outcome and reiterated that rates are seen increasing gradually in order to bring inflation to the bank’s target.

EURGBP technical analysis

The cross is retreating 0.57% at 0.9257 and a drop below 0.9090 (21-day SMA) would expose 0.9088 (low Jul.31) and then 0.8982 (55-day SMA). On the flip side, the next up barrier is located at 0.9324 (2019 high Aug.12) followed by 0.9411 (monthly high Oct. 2009).

Disclaimer

This article was provided by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

EURGBP analysis – Pair approaches 2019 highs near 0.9250

EURGBP is now picking up extra upside traction and moves at shouting distance from yesterday’s 2019 highs in the 0.9250/60 band.

9 August 2019, GKFX – The Sterling is not only suffering from the rising uncertainty around Brexit and the clear possibility of a ‘no deal’ outcome, but it is also deriving extra weakness from miserable prints from advanced Q2 GDP figures released today.

In fact, the UK economy is now seen contracting 0.2% QoQ during the April-June period and it is expected to grow at an annualized 1.2%, both prints coming in noticeably below forecasts.

Further poor UK data saw Business Investment expected to contract at a quarterly 0.5% in Q2 and Manufacturing Production contracting at a monthly 0.2% during June. On the brighter side, Industrial Production contracted less than expected (0.1% MoM) and the trade deficit shrunk to £7.01 billion also in June.

On the Brexit front, preparations for a ‘no deal’ scenario stay on the rise, as M.Gove suggested earlier today a bank holiday on November 1 in order to mitigate the potential consequences to the banking system of the ‘hard’ UK-EU divorce.

What to look for around GBP

The outlook on the British Pound looks increasingly fragile pari passu with rising odds for a Brexit ‘no deal’ on October 31. In the meantime, the Irish backstop remains the exclusive obstacle for the resumption of talks between London and Brussels, although the subject appears relegated in light of preparations for the worst-case scenario.

Back to the UK economy, poor flash Q2 GDP figures published today added to the already gloomy panorama from UK fundamentals, keeping the sour prospect for the economy and the currency unchanged. At last week’s BoE event, the central bank kept the monetary conditions unchanged, although it refuses to factor in a ‘no deal’ scenario in its projections. The BoE still sees a ‘soft Brexit’ outcome and reiterated that rates are seen increasing gradually in order to bring inflation to the bank’s target.

EURGBP technical analysis

The cross is advancing 0.47% at 0.9255 and faces the next up barrier at 0.9265 (2019 high Aug.8) followed by 0.9306 (2018 high Aug.29) and finally 0.9411 (monthly high Oct. 2009). On the flip side, a breach of 0.9088 (low Jul.31) would open the door to 0.9074 (21-day SMA) and then 0.9051 (high Jul.17).

Disclaimer

This article was provided by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

EURGBP clings to gains above 0.9100 following BoE decision

The broad-based range-bound prevailing in both the Sterling and the shared currency is prompting EURGBP to follow the same theme in the 0.9100 area.

1 August 2019, GKFX – The European cross has managed to rebound from Wednesday’s lows in the 0.9090/85 band and regained the 0.9100 neighbourhood amidst the persistent selling bias in EUR and some tepid recovery attempt in the Sterling.

Today, the BoE failed to ignite a noticeable reaction in the British Pound after leaving unchanged its refi rate and the asset purchase facility at 0.75% and £435 billion, respectively. Surprisingly, the central bank refused to comment on Brexit.

Speaking about Brexit, latest news said the government is planning an extra £2.1 billion to prepare for a ‘no deal’ outcome when the October deadline is just around 90 days away. The fresh funds would be oriented to increase border officers and to improve transport infrastructure at UK ports.

EURGBP technical analysis

The cross is gaining 0.13% at 0.9113 and faces the immediate hurdle at 0.9190 (2019 high Jul.30) followed by 0.9225 (2016 high Oct.7) and finally 0.9306 (2018 high Aug.29). On the other hand, a drop below 0.9088 (low Jul.31) would open the door to 0.9051 (high Jul.17) and then 0.9006 (21-day SMA).

Disclaimer

This article was provided by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

EURGBP analysis – Pair grinds lower, approaches 0.8900

25July 2019, GKFX – EURGBP keeps losing momentum this week and is now threatening to test the key support at 0.8900 the figure.

EURGBP looks to ECB, BOJO

The relief rally in the British Pound brought in some selling pressure around the European cross, particularly after Boris Johnson was elected new UK PM yesterday.

One of the first moves by the former London mayor was to purge the cabinet and have it oriented towards a Brexit ‘no deal’ with the appointments of D. Raab, P.Patel, A.Leadsom, L.Truss, J.Rees-Mogg, and S.Javid.

However, the renewed upbeat sentiment around the Sterling could be short-lived and only a consequence of the already large short positions in GBP, as demonstrated by the persistent increase in speculative shorts in past weeks.

Anyway, on this side of the Channel, the main focus will be on the ECB event amidst rising bets of an announcement of looser monetary measures, which contemplate lower interest rates, further QE and the probable change of ‘forward guidance’.

Earlier in the day, poor IFO figures added to the recent disappointment from flash PMIs and forced EUR to recede further ground.

EURGBP technical analysis

The cross is retreating 0.11% at 0.8913 and a breach of 0.8905 (monthly low Jul.24) would open the door to 0.8890 (55-day SMA) and then 0.8872 (low Jun.20). On the upside, the next barrier aligns at 0.9005 (high Jul.23) seconded by 0.9051 (monthly high Jul.17) and finally 0.9092 (2019 high Jan.3).

Disclaimer

This article was provided by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

Euro gains on strong US NFP figures

3 May 2019, OctaFX – Euro gains on strong US NFP figures, as NFP is up by 78,000 jobs, whilst the Unemployment Rate has fallen to 3.6%, which is nearly the 50-year low. In total the economy added more than 263K jobs, which was much higher than the expected NFP figures of 181K.

Review of US Data: Private NFP, Consumer prices, Core CPI

The U6 unemployment rate remained unchanged at 7.3% while the private nonfarm payrolls increased by 236K. On the negative side, the manufacturing payrolls increased by 4K, which was lower than the expected 10K. The average weekly hours dropped to 34.4 from the previous 34.5 while the average hourly earnings remained unchanged at 3.2%.

Also, the consumer prices rose by 1.7%, which was higher than the March gain of 1.4%. Investors were expecting the prices to rise by 1.76%. The core CPI, which excludes the volatile food and energy products rose by 1.2%, higher than the expected 1.0% gain. On the negative side, the PPI, which measures the change in price of goods sold by manufacturers rose by 2.9%, lower than the expected 3.0%. On a MoM basis, this number declined by -0.1%.

EURUSD to test 38.2% Fibonacci Retracement level

The EURUSD pair was struggling for direction after investors received the April jobs numbers. Initially, the pair dropped to a low of 1.1135 and then returned to the level it was before the jobs data. On the hourly chart, this price is along the lower line of the Bollinger Bands and along the 23.6% Fibonacci Retracement level. The Chaikin Oscillator moved above the neutral line. There is a likelihood that the pair will move slightly higher, to test the 38.2% Fibonacci Retracement level of 1.1190.

EURGBP could test Fibonacci level of 0.8590

In the past week, the EURGBP pair has been on a downward trend. The pair moved from a high of 0.8680 and yesterday reached a low of 0.8565. Today, it moved higher after the impressive inflation data from the EU. It reached a high of 0.8586, which is along the 50-day moving averages. It is slightly higher than the 25-day moving averages. This price is slightly below the 23.6% Fibonacci Retracement line on the hourly chart. The pair will likely move higher to test this Fibonacci level of 0.8590.

GBPUSD declined after the release of UK services PMI data

The sterling moved lower against the USD after the release of the UK services PMI data. The data showed that the PMI rose to 50.4, which was in line with expectations. In the previous month, the CPI had contracted to 48.9. This data came a day after the BOE delivered its interest rates decision. In the decision, the BOE left interest rates unchanged and announced that rates increases will move at a slower rate. The bank also raised the economic growth forecast.

The GBPUSD pair declined sharply after the release of UK services PMI data. The pair reached an intraday low of 1.2988. On the hourly chart, the price is slightly lower than the 25-day and 50-day moving averages and along the lower line of the Bollinger Bands. The RSI declined to below 30, while volumes are increasing. There is a likelihood that the pair will continue moving lower, to test the 1.2950 level.

 

08/04/2015 EURGBP IntraDay analysis (VIDEO)

Today our focus is on EURGBP intraday

Monthly chart- Bearish

Weekly chart– Also still bearish

Daily chart- A bearish divergence is present on daily chart.

Recommendation: On the 1hr time-frame, we have drawn a minor resistance. We expect price to go up towards the resistance and a subsequent bounce to continue its bearish movement.

 

Author: Jeremy

Disclaimer: AtoZ Forex would like to remind you that the data contained in this article is just the personal opinion of the author. AtoZ Forex or any author involved with AtoZ Forex will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within AtoZforex.com website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

EURGBP Harmonic Analysis: Will we see a break or a bounce?

The EURGBP, like the other EURO denominated pairs opened the week with a bullish gap. The 150 pip gap was due to the victory of Emmanuel Macron over Le Pen during the first round of the presidential votes. However, since then, price has moved within a very thin trading range. Are we finally going to get a breakout and a further dip? Will the key level support hold once again? Will the gap created close? A EURGBP Harmonic Analysis will show what possibilities lie ahead.

26 April, AtoZForex Both the Euro and the pound have begun the week fairly strongly. Among the majors, the EURO, GBP, CHF and USD have been the better performers while the AUD, CAD, NZD an JPY have done poorly this week.

This is probably why the EURGBP has only moved within a narrow 80 pip range from top to bottom this week so far. Interestingly, price just completed a bullish harmonic pattern.

EURGBP Harmonic Analysis EURGBP Harmonic Analysis: D1 Chart (click to zoom)

The bullish Gartley pattern completed last week at the 0.8300 psychological support. Since then, price has bounced 185 pips. On May 23, if Emmanuel Macron eventually wins the election, the Euro is expected to rally.

However, with a strong GBP, the rally is expected to be limited as the 0.8650 resistance should keep bulls at bay. The gap created may close soon and the 0.8300 support will be tested once again.

EURGBP Harmonic Analysis EURGBP Harmonic Analysis: D1 Chart (click to zoom)

EURGBP has kept creating lower highs since the October 2 flash crash. The 0.8650 resistance level should be a good level to short the pair. However, the 0.8300 level may not give in easily. That level has been tested for 8 months and has supported price from a further decline.

EURGBP Harmonic Analysis: Key levels and possible targets

The 0.8300 support level also doubles as the 0.38% support level from the 2015 low of 0.6931 to the 2016 high at 0.9268.

EURGBP Harmonic Analysis EURGBP Harmonic Analysis: W1 Chart (click to zoom)

If price eventaully breaks the 0.8300 support, it may test the 0.7921 handle, 400 pips below current price. Below that level, a further strong support lies at 0.6900.

EURGBP Harmonic Analysis EURGBP Harmonic Analysis: D1 Chart (click to zoom)

Think we missed something? Let us know in the comments section below.

EURGBP Technical Outlook

The EURGBP Technical Outlook reveals most of what is driving this pair as most headlines are emanating from both London and the European Union, circling around the idea of the breakaway of the United Kingdom from the European Union.

22 November, Swissquote – The EURGBP currency pair has actually gone back and forth during the trading session on Tuesday, floating around the 0.8860 level. The market continues to be very complicated to deal with for many traders, as the choppiness is exceptionally strong here.

Anxieties over Germans not being able to form a coalition government could weigh upon the Euro itself. That makes sense for a move down to the 0.88 level as well, and then conclusively I think to find buyers as people realize that the Germans not forming a coalition government isn’t disastrous.

EURGBP Technical Outlook

• EUR/GBP was rejected from rising trendline showing an aggressive reversal. Hourly support is given at a distance at 0.8733 (01/11/2017 low). Next resistance is located at 0.9014 (27/10/2017 high). Expected to go lower.

• In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).

Disclaimer

This article ‘ EURGBP Technical Outlook ‘ was written by Yann Quelenn, Market Analyst at Swissquote.

While every effort has been made to ensure that the data quoted and used for the research behind this document is reliable, there is no guarantee that it is correct, and Swissquote Bank and its subsidiaries can accept no liability whatsoever in respect of any errors or omissions, or regarding the accuracy, completeness or reliability of the information contained herein.

This document does not constitute a recommendation to sell and/or buy any financial products and is not to be considered as a solicitation and/or an offer to enter into any transaction. This document is a piece of economic research and is not intended to constitute investment advice, nor to solicit dealing in securities or in any other kind of investments.