|Day's range||0.877 - 0.877|
|52-week range||0.87684 - 0.87710|
The EUR/GBP pair has drifted a bit lower during the trading session on Monday, as traders are testing a major support level. This is more of a “zone”, so we could get sloppy action over the next 24 hours.
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. ...
The British pound had a rough week, and that of course help the EUR in this market. It looks as if the 0.88 level will continue to be supportive, and that we should go looking towards the 0.90 level above, given enough time.
The EUR/GBP pair has been very noisy during the trading session on Friday, exploding to the upside in reaching towards the 0.8850 level.
The Euro continues to experience headwinds in the short term as traders remain cautious due to knock-on effects from the Pound as political concerns remain about the Brexit. However, the Euro is intriguing moving forward and may find buyers who believe it should be valued higher.
This week will be all about the central banks. Four major institutions will have their interest rate decisions: FED, ECB, BoE, and SNB. From that four, only in US, we should see some changes. Currently, on the markets, we can see three nice trading setups:
The EUR/GBP pair initially was negative during the week, but turned around to form a very bullish looking candle for the close.
The Euro’s relative tranquility the past two days may be positive for traders. Two key risk events will take place next week, the U.S Fed interest rate decision, and the U.K and E.U Brexit Summit. These events could be a positive lynchpin for the Euro.
The Pound ran into political problems, as the Brexit has stumbled into a disagreement between Northern Ireland politicians who are part of the U.K governing coalition. As the Brexit negotiations prove difficult again, the short-term dynamics of the Pound took a wicked turn late on Monday. Northern Ireland politicians have said they will not agree to a Brexit deal unless they get concessions, and it has caused chaos for the Pound in the short-term.
The EUR/GBP pair initially tried to rally during the week, but then fell towards the 0.88 handle. This is a continuation of the consolidation that we have seen for quite a while.
The market continues to look very choppy in the EUR/GBP pair, which makes quite a bit of sense as both currencies are starting to shoot much higher against the US dollar.
Following it’s reversal from 1.1960 during early-week, the EURUSD recently dropped below an immediate TL support, which if sustained could further fetch the pair down towards 1.1755; though, it’s additional declines might be confined by the 1.1730-20 horizontal-region. Should sellers refrain to respect 1.1720 mark, the 1.1665 and the 1.1615 may entertain them, breaking which can drag the quote to 1.1550 support. In case if the pair reverses from current levels, the 1.1875-80 and the 1.1910 could restrict its near-term advances while an upward slanting TL, at 1. ...