Tag Archives: EURGBP

EUR/GBP spikes to two-and-half-week high, 0.8500 mark back in sight

EUR/GBP gains traction for the second straight day and climbs to over a two-week high on Friday. The BoE’s bleak outlook offsets mostly better-than-expected UK data and undermines the GBP. Upbeat Eurozone Industrial Production figures further provide a lift to the cross in the last hour. Concerns about the energy crisis in Europe  could act… Read More »

EUR/GBP Price Analysis: Grinds lower around 0.8450 on unimpressive UK GDP

EUR/GBP renews intraday high, before ticking lower, while staying inside a trend widening chart pattern. UK Q2 GDP shrank 0.1% QoQ versus -0.2% expected, monthly statistics came out softer on MoM, firmer on YoY. Double top around 0.8470 tests bulls, bears need validation from 200-HMA. EUR/GBP remains pressured around 0.8460-55 area after an initial wick to 0.8447… Read More »

EUR/GBP finds offers around 0.8470 ahead of UK GDP data

EUR/GBP is sensing selling interest around 0.8470 despite the lower consensus for UK economic data. UK households are making higher payouts as subdued earnings are unable to offset soaring inflation. The second-tier Eurozone data is expected to display a vulnerable performance. The EUR/GBP pair is facing barricades around the immediate hurdle of 0.8465 continuously since… Read More »

EUR/GBP Price Analysis: Eurozone bulls struggle around 50% Fibo at around 0.8460

A 50% Fibo retracement at 0.8463 is acting as a major barricade for the cross. An establishment in a bullish range (60.00-80.00) by the RSI (14) indicates bullish momentum. The 200-EMA is still untouched, however, the upside momentum warrants a break of the same. The EUR/GBP pair is displaying wild swings as investors are reshuffling… Read More »

EUR/GBP holds comfortably above 0.8400 mark, bulls await move beyond 200-day SMA

EUR/GBP attracts some dip-buying on Monday, though the uptick lacks follow-through. The BoE’s gloomy economic outlook is behind the GBP’s relative underperformance. Recession fears act as a headwind for the euro and kept a lid on any meaningful gains. The EUR/GBP cross attracts some dip-buying near the 0.8415 region and turns positive for the fourth successive… Read More »