|Day's range||0.885 - 0.886|
|52-week range||0.8758 - 0.88624|
The EUR/GBP pair has gone back and forth during the week again, ultimately ending up with a shooting star. It looks as if the market is dancing around the 0.88 handle, so I think at this point we will probably drift lower, only to find buyers underneath.
The EUR/GBP pair continues to grind sideways, with the 0.8840 level offering support, while the 0.8885 level is offering resistance. This is typical, as the 2 economies are so intertwined, and of course we have the negotiations between the United Kingdom and the European Union going on that will have a massive effect on where this pair goes, so headline risk is most certainly there.
Investing.com - The dollar was little changed against a basket of the other major currencies on Friday but recorded its strongest week in almost 15 months after a turbulent week in stock and bond markets around the world.
The EUR/GBP pair has been volatile yet again during the previous week, and on Friday took off to the upside. This isn’t much of a surprise though, we were close to the bottom of a range, and had formed a couple of hammers on the weekly chart at this level. The 0.88 level continues to bring in buyers.
The EUR/GBP pair initially fell during the week, but as you can see, we have turned around to form a nice-looking hammer at a vital level.
Investing.com – Consumer price inflation (CPI) in the euro zone eased slightly in January, diminishing pressure on the European Central Bank to move forward with further removal of monetary accommodation, official preliminary data showed on Wednesday.
The EUR/GBP pair rally during the trading session on Tuesday but pulled back a little bit to test the 0.88 level for support. This gives me an opportunity to pick up this pair on value, and it looks likely that the buyers are about to make another move.
Investing.com - The euro rose to the day’s highs on Tuesday, buoyed by data showing that the euro zone economy recorded its strongest rate of annual growth since the global financial crisis in the fourth quarter.
Investing.com – Gross domestic product (GDP) in the euro zone rose as expected in the fourth quarter, according to preliminary official data released on Tuesday.
Investing.com - The pound was pressured lower on Monday as a recovery in the dollar and renewed concerns over Brexit weighed, with British Prime Minister Theresa May’s European Union withdrawal bill under fire.
The EUR/GBP pair broke down significantly during the week, but towards the end of the Friday session, we started to see strength again, and therefore formed a hammer.
The EUR/GBP pair continues to be very volatile, falling initially during the day on Friday, but then bounced enough to test the highs from Thursday again. I think that the market is going to continue to see a lot of noise, and therefore that’s the one thing you can count on.
The EUR/GBP pair has been going back and forth for several months, and we are currently in the middle of that area. I think there is significant support going down to the 0.87 level, which is a massive barrier of support in form of the 61.8% Fibonacci retracement level. I suspect that we will continue to see interest in the EURO below.
The EUR/GBP pair continues to drift sideways and listlessly, in a larger consolidation region. The market seems to have plenty of support at the 61.8% Fibonacci retracement level, just as the resistance formed at the 0.90 level. Overall, this is a market that favor short-term trading.
The EUR/GBP pair has been choppy yet again during the previous week, as we continue to bounce around in a consolidated range. After all, we are still negotiating the withdrawal of the United Kingdom from the European Union, and that of course is going to present a lot of headline risk in a market that features both currencies.
The EUR/GBP pair initially fell during the trading session on Wednesday, reaching down towards the 0.8850 level. However, the market then bounced to form a bit of a supportive move. Because of this, I think that the market is ready to continue the overall consolidation.
The EUR/GBP pair rallied a bit during the trading session on Tuesday, as traders came back to work. We spiked towards the 0.89 handle, but then pulled back somewhat. This is a market that has been drifting higher, and that’s probably the way this market will continue to behave.
The EUR/GBP pair had a reasonably quiet week, but the one thing that I cannot help but notice is that we formed a hammer. This suggests to me that there is still farther to go.
The EUR/GBP pair went sideways initially during the trading session on Thursday, but then rallied a bit to continue what I think is a larger pattern on the hourly chart.
The Euro has been able to achieve noteworthy gains the past two days against the U.S Dollar, but trading volumes remain light and strong resistance looms ahead.
The EUR/GBP pair rallied a bit during the week, but gave back some of the gains later. However, we are well within the established consolidation area, so I think we are going to continue to see more of the same.
The Euro has tracked higher in value early this morning. The Euro continues to meet tests against the U.S Dollar with solid support and renewed strength.
The GBP/USD has been sold on rallies recently as the Brexit talks continue to weight on the pound. Technically the pair is very close to the POC. 1.3365-89 is the POC zone ( W H3, EMA89, order block, 61.8 and ideally the pair should stay below the W H4 – 1.3409 to remain bearish. However, it is Monday and we might see some up-and-down price action until the price settles down a bit. Targets are 1.3303 and if we see a clear break below, then 1.3273 and 1.3247 could be next. ...