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EUR/GBP
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snapdragon1970

Member Since Sep 12, 2015  1842 posts kieran (snapdragon1970) Jul 05 2016 at 10:14
Despite concerns regarding Italy’s banking crisis and the potential for the rise of euro-sceptic political parties, the single currency advanced versus nearly all of its major peers.
The appreciation can be linked to the combination of positive domestic ecostats and traders taking advantage of the Euro’s comparatively low trade weighting.
Meanwhile, the British Pound continues to struggle after domestic data showed Business Confidence slumped.
8490 got hit earlier,a short position looks likely back down to 8400,tight stop losses are the key here.

"Mistakes are the portals of discovery",James Joyce.
snapdragon1970

Member Since Sep 12, 2015  1842 posts kieran (snapdragon1970) Jul 05 2016 at 17:26
8540 was knocked out,stuck at 8500 for now,8490 looks like support medium term.

"Mistakes are the portals of discovery",James Joyce.
mlawson71

Member Since Dec 11, 2015  1486 posts mlawson71 Jul 06 2016 at 08:51
The pair reached 0.8620 today, I don't think that the move to the upside is over for now.

mlawson71

Member Since Dec 11, 2015  1486 posts mlawson71 Jul 07 2016 at 08:51
Or maybe it was over for the moment, considering that it has stalled there.

snapdragon1970

Member Since Sep 12, 2015  1842 posts kieran (snapdragon1970) Jul 07 2016 at 15:48
Looks like GBP/USD is heading back down to 1.2800

"Mistakes are the portals of discovery",James Joyce.
mlawson71

Member Since Dec 11, 2015  1486 posts mlawson71 Jul 09 2016 at 10:00
Perhaps. It's just consolidating sideways for now, but that also means it's not bullish at all.

snapdragon1970

Member Since Sep 12, 2015  1842 posts kieran (snapdragon1970) Jul 09 2016 at 15:28
Two areas I will be watching 1.3010 and 1.2907,yeah just going sideways waiting for a breakout.

"Mistakes are the portals of discovery",James Joyce.
mlawson71

Member Since Dec 11, 2015  1486 posts mlawson71 Jul 10 2016 at 10:48
snapdragon1970 posted:
Two areas I will be watching 1.3010 and 1.2907,yeah just going sideways waiting for a breakout.


What do you think about EUR/GBP? Do you think it will continue rising?

snapdragon1970

Member Since Sep 12, 2015  1842 posts kieran (snapdragon1970) Jul 11 2016 at 14:13
My view:GBP has to depreciate more to remain competitive,if you read BOE Carneys speech you will get the full picture,there's a 50% chance of UK slipping into recession according to Reuters. 1000 top lawyers signed a petition in London, doubt about the legality of the vote.

"Mistakes are the portals of discovery",James Joyce.
mlawson71

Member Since Dec 11, 2015  1486 posts mlawson71 Jul 12 2016 at 08:47
snapdragon1970 posted:
My view:GBP has to depreciate more to remain competitive,if you read BOE Carneys speech you will get the full picture,there's a 50% chance of UK slipping into recession according to Reuters. 1000 top lawyers signed a petition in London, doubt about the legality of the vote.


I read about the petition. Who knows whether it will work...

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Consumer Price Index (QoQ) (14 min)
Key US data, Industrial production previ...(4 min ago)
EURUSD 1.17102 GBPUSD 1.32359
USDJPY 112.288 USDCAD 1.31376

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