|Day's range||0.876 - 0.876|
|52-week range||0.8735 - 0.8824|
The EUR/GBP pair has been somewhat noisy during the trading session on Thursday, but with a decidedly negative bias. That being said, there is a lot of noise in this market, so I won’t necessarily be the easiest trade to take.
With the month-long symmetrical triangle restricting the EURGBP moves between 0.8720 & 0.8800, chances of the pair’s recent pullback to test 0.8720 support and take a U-turn from there are higher. GBPJPY’s break of nine-month old ascending trend-line signals the pair’s further downside to the 144.95-145.15 rest-zone but its additional south-run can be confined by oversold RSI, which if ignored can drag the pair to 143.00 support.
The EUR/GBP pair was very noisy during trading on Wednesday, testing the vital 0.88 level for resistance. I believe that the market continues to respect this level, at least in the short term as difficult condition should continue.
The Euro continues to be very noisy against Sterling during the trading session on Tuesday as we are struggling to find direction. The market had recently rallied from extreme lows, but quite frankly we haven’t been able to break resistance above with any type of significance to impress to the upside.
The Euro rallied a bit against Sterling during the trading session on Monday, breaking above the 0.8750 level. Because of this, it looks as if we are trying to find some type of momentum to the upside and perhaps reach towards the 0.88 level above which has been massively important in the past.
The Euro fell against the British pound during the week, reaching towards the bottom of the hammer from the previous week, which of course is a very negative sign. Because of this, I think that we may see continued bearish pressure. However, it’s going to be choppy at best.
The Euro continues to go back and forth during the trading session on Friday, showing signs of support near the 0.87 level. The market continues to see a lot of noise, mainly because of the overall concerns when it comes to the negotiations between the European Union and the United Kingdom. Beyond that, there is a lot of noise in general.
The ICE U.S. Dollar Index (IFUS:DX-Y.NYB), which measures the dollar against six rivals, most notably the euro, was up 0.2% at 93.670. The WSJ Dollar Index (CALCULATED:BUXX), a broader measure of the greenback that also includes emerging-markets currencies, was up 0.1% at 87.14, up 1.1% over the past week. The shared currency earlier hit a session low of $1.1750, marking its lowest level since Dec. 18, according to WSJ Market Data Group.
While the EUR/GBP pair has bounced a bit during the day on Thursday, ultimately this is a market that continues to go much lower. The 0.87 level has offered a bit of support, but I think ultimately this market is ready to continue going lower, especially considering that we have seen such a tenacity to selling over the last several weeks.
The EUR/GBP pair fell significantly during the day on Wednesday, reaching towards the support level at the 0.8725 level again. It’s likely that we could get a little bit of a bounce here, but it seems as if the British pound is starting to outperform the Euro, which makes sense considering that we are starting to worry about Italian bonds.
The Euro slipped against the British pound during the trading session on Tuesday, reaching down towards the 0.8775 handle before finding a bit of support. The question is now whether we can reenter the previous consolidation area?
The EUR/GBP pair has fallen on Monday, as we have reached towards the 0.88 level for support. The market has been rather choppy over the last several sessions, as we continue to hover around the 0.88 level. This is an area that has been supportive, and I think that if we break down below the 0.8780 level, we could get a complete reach raise. Otherwise, this is a market that I think is going to continue to be a short-term selling and buying opportunity just waiting to happen.
The pound sterling is around its January lows as we are heading into the third week of May. The decision of the Bank of England to leave the interest rates and the overall monetary policy unchanged disappointed the market.
The EUR/GBP pair fell significantly during the week but turned around to form a bit of a hammer. That’s an obvious bullish sign, and now that we have broken above the 0.88 handle, it’s likely that we will probably continue to go towards the 0.90 level above.
EUR/GBP traders had a volatile session on Friday, as we initially fell below the 0.88 handle, but then turned around to show signs of strength and support at that level. I think that the market continues to show signs of volatility going forward, but I think that the recent surge higher shows that there is more of an upward proclivity, not to mention the fact that the weekly candle suggests the same.
The EUR/GBP pair rallied rather significantly during the session on Thursday, breaking above the 0.88 level after the Bank of England decided to hold interest rates 7 to 2, and then even had a somewhat dovish statement afterwards.
Investing.com - The pound erased gains on Thursday as the Bank of England left interest rates on hold and said that any future rate increases are likely to be gradual and limited in their extent.
The EUR/GBP pair fell again during the session on Wednesday, reaching down towards the 0.8725 handle. The market does have significant support underneath, and it looks as if we are going to try to get there over time.
The euro fell against the British pound during the trading session on Monday, as we continue to test the bottom of the overall consolidation area. I think that the market should probably continue to see a lot of volatility, but we are still within consolidation. I think that the market is of course going to be driven by headlines occasionally as well, making it very difficult to hang on to longer-term trades.
The upcoming Bank of England’s interest rate decision on Thursday will have GBP traders paying attention to every detail possible. The recent GDP (Gross Domestic Product) was hard to swallow by GBP bulls, as it triggered a wave of selling in the GBP pairs.
The EUR/GBP pair has pulled back initially during the day on Friday, but then rallied from the 0.8820 level. It is currently testing the highs again, so I think we will probably see this market go much higher. Short-term pullback should be buying opportunities based upon the overall attitude that we have seen in this market, and perhaps even the ascending triangle that we had seen.
The Euro continued to grind a bit higher during the trading session on Thursday, as the British pound has gotten beaten up against several different currencies. Ultimately, this is a market that is very choppy, and headline driven, so there is always the possibility of a sudden move, but I think patience will be needed more than anything else when trading this market.
The Euro fell against the British pound during training on Wednesday again, as we continue to see this market use the 0.88 level as a bit of a fulcrum for price. Anticipate that the 0.8825 level will continue to offer a bit of resistance, while the 0.8775 level underneath offers some support. Remember, this is going to be one of the more volatile currency pairs as we get the negotiations between the European Union and the United Kingdom offering headlines.
The EUR/GBP pair has broken higher during trading on Tuesday, slicing through the 0.88 level again. This is a market that I think is reacting more to the British pound than anything else.
Investing.com - The pound fell to four month lows on Tuesday after weak UK factory data further cut chances for a near term rate hike by the Bank of England, while the broadly stronger dollar rose to multi-month highs against a currency basket.