Today
-0.31%
5 Days
-0.44%
1 Month
-2.79%
6 Months
-3.78%
Year to Date
-4.41%
1 Year
-5.24%
Opening Price
0.835Previous Closing Price
0.836
The downside prevails as long as 0.8353 is resistance, with 0.8329 and 0.8323 as targets
above 0.8353, look for 0.8362 and 0.8368.
The downside prevails as long as 0.8353 is resistance, with 0.8329 and 0.8323 as targets
The Euro (EUR) extends losses on Friday as Eurozone macroeconomic data has failed to convince investors, while the British Pound (GBP) rallies across the board with markets pricing in a Bank of England (BoE) rate hike next week.
The EUR/GBP cross edges lower to around 0.8345 during the early European trading hours on Friday, pressured by divergent monetary policies. Traders will keep an eye on the preliminary readings of Q3 Gross Domestic Product (GDP) from Germany and the Eurozone later on Friday.
EUR/GBP remains on the back foot on Thursday as the European Central Bank’s (ECB) monetary policy announcement fails to lift the Euro (EUR) against the British Pound (GBP), which outperforms its major peers.
Societe Generale analysts see scope for a relief rally in GBP/USD following the UK Budget and ahead of a potentially hawkish Bank of England hike. They argue the UK is on track for the fastest fiscal consolidation in the G7, which could eventually support Gilts and Sterling.
The Euro (EUR) posts minor losses against the British Pound (GBP) on Thursday, trading within Wednesday’s range, as investors await the European Central Bank’s (ECB) monetary policy decision, due later in the day.
ING's Chris Turner sees scope for a partial unwind of a 20bp risk premium in 10-year UK gilt yields following the budget. While the Bank of England's tightening outlook should remain broadly unchanged unless minimum wages surprise, narrowing gilt–Bund spreads may support Sterling.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
