EUR GBP Overview

Euro strong after Franco-German proposal The euro is continuing to climb in today’s trading session, following on from yesterday’s gains after a proposal by France and Germany to fund grants for countries in the Eurozone left most vulnerable to the effects of the coronavirus The 500 billion euro Eu...

Pound to see further troubles The British pound has made somewhat of a comeback against its US counterpart over the past few trading sessions, after reaching its lowest level since 1985 as investors sought out the greenback as a safe haven asset. Many believe the size and effectiveness of the stimu...

Previous: On Thursday the 31st of May, trading on the EURUSD pair closed slightly up. Despite the fact that the euro dropped to 1.1641, it managed to recover to 1.1700 by the end of the session. This recovery was the result of reduced pressure on the single currency. Giuseppe Conte is set to be swor...

Previous: On Thursday the 19th of April, trading on the euro closed down. The single currency slid against the dollar from 1.2400 to 1.2345. The local minimum is at 1.2329. Additionally, the greenback got a boost from a rise in US10Y bond yields, which have jumped from 2.86% to 2.934%. Aside from th...

Previous: On Wednesday the 18th of April, trading on the EURUSD pair closed slightly up at 1.2373. The single currency got a significant boost from the EURGBP and EURCAD crosses. The pound dropped against both the dollar and euro following the release of disappointing UK inflation figures for March....

Previous: On Friday the 13th of April, trading on the single currency closed slightly up against the greenback. Trading was mixed, with the pair fluctuating within a range of 1.2307 – 1.2346 due to a lack of any new impetus. The euro came under pressure from the publication of the minutes of the ECB...

Previous: On Tuesday the 3rd of April, trading on the euro/dollar pair closed down. The daily patterns from the 2nd and 3rd of April are very similar, although the fundamentals behind them are different. In Europe on Monday, buyers reached a new session high before sinking to new lows. Then, on Tues...

Previous: On Thursday the 22nd of March, trading on the euro closed down. The rate dropped to 1.2285 during the European session. The single currency was pushed down by a multitude of factors, including a drop in German bond yields, the EURGBP cross, and weak German and Eurozone data. From its sessi...

Previous: On Wednesday the 21st of March, trading on the EURUSD pair closed up. The single currency sharply rose following the FOMC meeting and the Fed chair’s speech. The FOMC increased the federal funds rate by 0.25% to 1.75%. In terms of the key rate, the Fed’s projection for 2018 remains the sam...

Previous: On Monday the 19th of March, trading on the dollar closed down. As the dollar declined across the board, the euro recovered to 1.2356. The British pound was a driving force on the currency market yesterday as it strengthened against the dollar following news that a transitional deal has be...

USDCHF tested the ultra-important resistance around 0.945 for the second time. This time, the price created a daily shooting star pattern, which is a very negative sign for buyers. Today, we have a confirmation of the bearish sentiment and the price is making lower lows and highs. EURGBP is very cl....

Previous: On Wednesday the 28th of February, trading on the euro closed down. Including during today’s Asian session, the single currency has dropped to 1.2184. As the dollar was rising across board, the euro’s drop could have been more intense. It was saved by the euro/pound cross, which posted a 1...

Previous: On Thursday the 8th of February, trading on the euro closed slightly down. A low of 1.2212 was hit on the back of a sharp jump on the British pound and the collapse of the EURGBP cross following the conclusion of the Bank of England’s meeting. When the cross pair reversed upwards, buyers h...

Previous: On Wednesday the 7th of February, trading on the euro closed down. The EURUSD pair fell from 1.2405 to 1.2246 (-159 pips). The main driver behind the dollar’s surge was the rise in US bond yields coupled with the extension of US government funding until the 23rd of March. This downwards dy...

Trading opportunities on the currency pair: last week, this cross declined by 293 pips to reach 1.3199. This resulted in a double top formation, which will be confirmed should the pair drop below 1.3132. My forecast has the price breaking out of the B-B channel downwards, followed by a further drop ...

Mario Draghi didn’t say anything new. His comments were similar to ones he made recently. The consensus about his statement is that the ECB president wasn’t dovish enough. This pushed EUR higher. On the EURGBP pair, this created an opportunity for a false breakout pattern. Two days ago, the price a....

The British pound may soon hit $1.40 as expectations grow that a 2nd referendum will be held on whether Britain will remain in the European Union with the chances of a reversal in decision of the previous referendum a distinct possibility. Many analysts believe that if a second referendum is announc...

Previous: On Wednesday the 10th of January, trading on the euro closed slightly up after Bloomberg landed a blow on the dollar during the European session. The news agency reported that China is planning to reduce or stop its purchases of US government bonds. The dollar dropped as bond yields rose d...

Previous: On Tuesday the 12th of December, trading on the euro/dollar pair closed down. The pair spent most of yesterday around the LB balance line (sma 55) at 1.1770. The rate then took a sharp dive after the publication of the producer price index in the US. The year on year value came out higher ...

First up is the NZDUSD, which is going higher, driven mostly by the false breakout pattern that occurred at the end of last week. Buyers are also supported by the inverse head and shoulders pattern. Buy signal is on as the neckline is already broken. Next up is the EURGBP, which is also having a fa....

Previous: On Thursday the 7th of December, trading on the euro/dollar pair closed down. The euro hit a low of 1.1776 on the back of a decline on the euro/pound cross. The GBPUSD pair dropped to the 1.3320 mark before mounting a 165-pip recovery to reach 1.3485. As the pound’s surge gained momentum a...

Previous: On Wednesday the 6th of December, trading on the euro/dollar closed down. The greenback made gains against most of the majors after significant progress was made in Congress regarding tax reform. Senate Republicans have agreed to talks with the House of Representatives to discuss the new l...

EURGBP bounced from the ultra-important support at 0.875 before going on to break up the mid-term downwards trend line and come back above the long-term upwards trend line. This should be perceived as bullish and the potential target for this movement is at 0.902 EURUSD denied the huge head and sho....

GBP was the real star of today's trading. We had the first rise in UK rates since 2007. The outcome of this was bearish for the pound. EURGBP was signalling this possibility yesterday. The price created a hammer candlestick on the daily chart which was bouncing off the important long-term support. ....

EURUSD is about to use the recent support as the closest resistance. That would be a very beautiful price action movement. The price is approaching the neckline of the huge H&S formation, where we could possibly see a bearish reversal, confirming the main sell signal on this instrument, which w....

Trading opportunities on the currency pair: A double top has formed at the 50% level, which has strengthened the bearish engulfing candlestick pattern. Taking the bearish factors into account, the euro is expected to drop to 0.8624. A drop on the EURGBP pair to 0.8856 would be a positive signal for ...

Previous: On Thursday the 19th of October, trading on the euro/dollar pair closed up. The British pound was not so fortunate. The main reason for the euro’s rise on the crosses was the news from Spain. Mariano Rajoy, the Prime Minister of Spain, announced his government’s intention to impose direct ...

Today’s main event will be the US inflation data, but the rate decision from the BoE also got some attention. USDCAD is forming a bearish flag ahead of the CPI. This pair likes and uses trend continuation patterns so we should see a further drop; obviously only if the CPI allows us to do so. EURGBP....

Welcome back after a surprisingly calm weekend. The fact that the weekend was uneventful is the main reason why we’re currently in “risk on” mode on the market. The weekend was uneventful with regards to North Korea, but also to Hurricane Irma, which caused less damage than expected, receiving a po....

The BoC surprised and the ECB gave a boost to the EUR, but now it’s time to slow down a little bit and prepare for the weekend. That doesn’t mean that we have to stop trading, which is why we’ve prepared three good setups for you today. The first one is a long-term occasion on the AUDUSD, where the....