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Is The British Pound Making A Comeback?
Aug 18, 2017 at 10:45
875 Visa
7 Replies
Aug 18, 2017 at 10:45
EUR/GBP
Momentum appears to declining for Euro buyers especially against the British Pound. Price action has broken the 20-period exponential moving average to the downside, which had been acting as a support line for the pair. Its worth noting however, price action has broken the moving average once previously, with prices snapping back in a bullish direction. Momentum indicators confirm a lack of conviction from Euro buyers as RSI heads towards the 50 threshold and MACD begins its descent towards the zero line.
Impact event: Eurozone current account data will be released at 11:00 GMT+3, impacting Euros pairs.
GBP/USD
Following the theme of GBP recovery, the GBP/USD pair appears to be turning more bullish and is currently testing the 1.290 price level along with the 20-period EMA. Volume has been rising into the bullish move which could indicate there is still some buying interest for the Pound. Momentum indicators are mixed; with MACD following an upward trajectory however, RSI has flattened below the 50 threshold. Clearly, a break of the 1.39 price level is required to confirm the bullish momentum, with the next price target at 1.297.
Momentum appears to declining for Euro buyers especially against the British Pound. Price action has broken the 20-period exponential moving average to the downside, which had been acting as a support line for the pair. Its worth noting however, price action has broken the moving average once previously, with prices snapping back in a bullish direction. Momentum indicators confirm a lack of conviction from Euro buyers as RSI heads towards the 50 threshold and MACD begins its descent towards the zero line.
Impact event: Eurozone current account data will be released at 11:00 GMT+3, impacting Euros pairs.
GBP/USD
Following the theme of GBP recovery, the GBP/USD pair appears to be turning more bullish and is currently testing the 1.290 price level along with the 20-period EMA. Volume has been rising into the bullish move which could indicate there is still some buying interest for the Pound. Momentum indicators are mixed; with MACD following an upward trajectory however, RSI has flattened below the 50 threshold. Clearly, a break of the 1.39 price level is required to confirm the bullish momentum, with the next price target at 1.297.
Medlem sedan Apr 18, 2017
700 inlägg
Nov 16, 2017 at 15:34
Last week, I have opened a Buy trade on EUR/GBP! In addition, till now I am holding that trade for 320 pips profit! I opened that trade position according to the daily chart of EURGBP.
Feb 10, 2020 at 18:12
How does it sounds to you in 2020, it's a month over already..... do let me know what you are thinking about it. I am finding it very interested anyway. They are completing Brexit now so who knows how it will turn out here totally and completely.
Medlem sedan Jul 23, 2020
696 inlägg
Oct 12, 2020 at 06:58
UK is in Brexit transition period. It will end in this year. On the other hand, COVID-19 make the market unsettled. So, it is hard to say for British Pound in 2020.
Medlem sedan Jun 30, 2020
43 inlägg
Oct 19, 2020 at 12:14
Looking at my charts I would say so.
Medlem sedan Jul 23, 2020
816 inlägg
Oct 24, 2020 at 17:26
EUR/GBP losses and returns to 0.9100 mark. However, traders are growing interest about the Brexit talks.
Medlem sedan Dec 28, 2013
160 inlägg
Dec 07, 2020 at 05:07
Sadly, GBP willl never recover from the Brexit disaster. End-of-the Year will bring turmoil to both EUR and GBP. There is a hgh risk of hard Brexit, almost inavoidable. There is also a great risk of the dissolution of the UK.. This was solely my _opinion_. .. and that's the way I think it is..
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