EUR/GBP Price Forecast: Euro is testing trendline support at 0.8555
EUR/GBP has been on the rise since mid-July and barring a surprise move by the BoE on July 30, there is little else to hold it back.
EUR/GBP Price Forecast: Eases from 0.8575 resistance with the bullish bias intact
EUR/GBP Price Forecast: Eases from 0.8575 resistance with the bullish bias intact
EURGBP (Sterling) tests critical top EURGBP (Sterling) was left licking its wounds after the Euro found another higher high on its way to another peak. The rally continued after a break above 0.8550 forced sellers to bail out.
EUR/GBP Price Forecast: In a positive trend with bulls eyeing 0.8555 resistance
EURGBP edges higher in early Thursday after hitting 13-month low following 0.8% drop on Wednesday (the biggest daily loss since June 22), when the pound was strongly lifted by signals that new PM Burnham will pick a fiscally conservative finance minister to be in charge of handling fragile public finances.
Sterling extended its rally after reports that incoming Prime Minister Andy Burnham has decided on a fiscally conservative Chancellor. The Pound outperformed broadly, with the strongest gains seen against the Euro and Swiss Franc as both EUR/GBP and GBP/CHF broke out of established technical channels, suggesting investors are beginning to price a more durable revaluation of UK assets rather than merely covering short positions.
EUR/GBP Price Forecast: Steadies near 0.8500 with upside attempts limited
EURGBP holds within narrow consolidation on Thursday after hitting new over one year low in strong bearish acceleration in past couple of sessions.
EUR/GBP Price Forecast: Languishes below 0.8550 with bullish attempts subdued
EUR/GBP Price Forecast: Languishes below 0.8550 with bullish attempts subdued