|Day's range||0.882 - 0.881|
|52-week range||0.8758 - 0.8810|
The EUR/GBP pair has been range bound for some time, and this past week did nothing to dispel this thought process. I think that the 0.88 is a level that attracts a lot of attention, and that’s roughly where we find ourselves at as we close out the week.
Investing.com - The euro was broadly lower on Wednesday as comments by senior European Central Bank officials tempered expectations for a speedy exit from its €2.55 trillion bond purchasing stimulus program.
Investing.com - The dollar remained slightly lower against the other major currencies on Monday after Friday’s U.S. jobs report tempered expectations for a faster rate of rate hikes by the Federal Reserve this year.
The EUR/GBP pair showed a bit of volatility during the week, initially trying to rally but rolling over at the 0.90 reason to turn things around. By doing so, it looks as if we are going to continue to consolidate in general, between the 0.87 level of the bottom and the 0.90 level on the top.
Investing.com - The euro reversed gains on Thursday after European Central Bank President Mario Draghi downplayed a decision to drop a pledge to expand its quantitative easing program from its rate statement.
Investing.com - The euro rose across the board on Thursday after the European Central Bank dropped its pledge to expand its quantitative easing bond purchasing stimulus program, in a more hawkish rate statement than expected.
The EUR/GBP pair has initially fallen during Monday trading, but you can see has bounced a little bit as the Americans of come on board. Part of this might have been technical, due to the fact that it was at a large, round, psychologically significant number, while part of it may have been value hunting in what has been a very strong move higher.
GBP is looking good and nice, with a strong trend, and holding on the daily timeframe. This is another excellent opportunity for bulls to get in and take advantage of this strong bullish trend. This constitutes a remarkable opportunity to take the advantage of the market.
The EUR/GBP pair has had a good run this week, reaching towards the 0.8950 level as a record this. There is significant resistance above at the 0.90 level, the top of the recent consolidation that we have seen. Because of this, I think that we have somewhat limited upside from here.
Investing.com - Sterling fell to one-and-a-half month lows against the broadly stronger dollar on Thursday as expectations for faster hikes in U.S. interest rates this year continued to underpin the greenback.
The EUR/GBP pair has been very volatile during the trading session on Tuesday, as we are trying to break out to the upside.
The EUR/GBP pair went back and forth during the course of the week, as we continue to dance around the 0.88 level. Ultimately, I think that we will eventually break out to the upside, but currently we are consolidating overall, and I think that will continue to be the story for a while.
The EUR/GBP pair has broken down during the trading session on Friday, reaching below the 0.88 level. There is a lot of support in this general vicinity though, and longer-term charts suggest that the markets will continue to be very noisy.
The EUR/GBP pair had a choppy session on Thursday, looking very much like a market that’s trying to build a base. This of course is a bullish sign, but I think that the market will continue to be very noisy as there are a lot of moving pieces.
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.