EUR/GBP Price Forecasts: Euro holds below 0.8450 with indicators showing some bullish divergence
The Pound Sterling strengthened against the euro as EUR/GBP broke below the 0.86 level, with investors scaling back expectations for further European Central Bank rate hikes following the sharp fall in oil prices and improving inflation outlook. Latest — Exchange Rates:Euro to Pound (EUR/GBP): 0.854586 (-0.23%)Pound to Dollar (GBP/USD):.
EURGBP edges higher on Friday after fresh acceleration lower in past three days failed to clearly break Fibo support at 0.8552 (50% retracement of 0.8239/0.8865 rally, also weekly Ichimoku cloud base) and formed a bear-trap pattern on daily chart that paves the way for recovery.
British Pound: Sterling shorts unwind as EUR/GBP breaks support – ING
EUR/GBP may have passed a turning point that extends well beyond this week's inflation data. The sharp break below key technical support reflects more than a softer Eurozone CPI report—it signals that one of the market's biggest policy trades of recent months is beginning to unwind, and intensifying.
EUR/GBP Price Forecasts: Euro hesitates above 0.8600 amid easing downside pressure
In the world of trading, timing is everything. The EURGBP chart below highlights an important lesson in market analysis: waiting for the right area of interest can make the difference between chasing price and positioning with a clear plan.
The pair remains firmly in red, following Monday's 0.8% drop (the biggest daily drop since 25 July last year) with long upper shadow on Tuesday's daily candle, pointing to strong offers.
British Pound: Political transition seen as upside risk to EUR/GBP – ING
EUR/GBP's advance this week is telling a bigger story than simple Euro strength. What markets are really pricing is a fading belief that the Bank of England will need to deliver significantly more tightening than the European Central Bank.
EURGBP currency pair recently reversed from the support zone between the strong support level 0.8620 (which has been reversing the price from February, can be seen below) and the lower daily Bollinger Band.
EUR/GBP Price Forecasts: Bulls push against 0.8644 highs amid higher risk appetite