EUR/GBP (week of 15-19/02)

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Weekly Summary

After starting the week at 0.8739, Euro/Pound slid down to 0.8646 (down 92 pips) .

EUR/GBP trading at 0.8646 with no clear-cut direction, ranging between 0.88 and 0.86.

Taking a wider perspective, performance of these other symbols usually suggests a setback for Euro/Pound as EUR/AUD is down 165 pips from the beginning of the session and now trades around 1.556. EUR/NZD is down to 1.6605, losing 141 pips after opening at 1.6746. Crude oil is down $1.52 from the beginning of the session and is now trading around $60.52.

Positive performance can be seen looking at other symbols, as the Australian dollar is trading around 0.7872 after starting the session at 0.7773 (up 1.27%). The Kiwi is trading around 0.73 after starting the session at 0.7222 (up 1.06%).

Feb. 19, 2021

After five days of going down, Euro/Pound has no clear-cut direction today, trading around 0.8646

(23:21) GMT

Although starting the trading session strong, rising from 0.8655 to 0.8646, EUR/GBP dropped back and is now priced at 0.8646.

This limbo state for Euro/Pound is reflected by market data published as Data for United Kingdom Services PMI released today at 9:30 AM comes out at 49.7, beating projections of 41 and showing improvement over the preceding figure of 39.5. The United Kingdom Composite PMI came out at 49.8, above the estimate of 42.2. This is also a step forward from the previous data of 41.2. The United Kingdom Manufacturing PMI beat expectations of 53.2 with new data release of 54.9. This is also a step forward from the previous data of 54.1.

The Chart pattern study shows the Euro/Pound resistance level is at 0.9023. In terms of trend indicators, we can see that the CCI indicator is below -100. When the CCI (Commodity Channel Index) is at this level, it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend. Momentum evaluation shows The Relative Strength Index indicates the Euro/Pound is in oversold condition, allowing more gains. However, the lower Bollinger band is at 0.8616, indicating a positive move might be next.

Overall, looking at the technical analysis landscape, it seems Euro/Pound might be pointing down in the short term.

While the Euro/Pound is pretty flat so far today, mixed performance is seen elsewhere as the Australian dollar is up 1.27%. After starting the session at 1.556, EUR/AUD lost 165 pips and is trading around 1.5395.

Euro/Pound social media highlights:

follow us: