EUR/GBP Live News

This page provides live coverage and news analysis on the EUR/GBP currency pair

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Nov. 27, 2020

Euro/Pound climbs to 0.8984 after starting the day at 0.8916 (up 0.77%)

(23:21) GMT

EUR/GBP spikes to 0.8984, gaining 68 pips.

Meanwhile, France's Consumer Price Index came out at 0.2, while the projection was zero. France's HICP (MoM) beat the 0.1 projections, with 0.2. Germany GfK Consumer Climate (Dec) fell short of the -5 projections, with -6.7 and continued its downward trajectory from the previous figure of -3.2.

A look at other markets shows behavior that usually indicates a green move for the Euro/Pound as Pound/Yen drops to 138.63 (58 pips).

In the meantime, Sterling is down 42 pips from the beginning of the session and now trading around 1.3356.

The Euro/Pound is getting closer and is now only 34 pips from the resistance line at 0.9033, Crossing it might suggest further gains are ahead. At 0.8987, Euro/Pound made an initial breakout above the 200 day Simple Moving Average. The upper Bollinger band is at 0.904, indicating a negative correction might be next. Overall, looking at all the technical indicators, it seems a reverse of course in the short term might be next for Euro/Pound

Nov. 26, 2020

Euro/Pound drifts to 0.892 up 19 pips

(22:21) GMT

Meanwhile, Germany's GfK Consumer Climate (Dec) fell short of the -5 projections, with -6.7 and continued its downward trajectory from the previous figure of -3.2. France Jobseekers Total was released on Wednesday at 11:00 AM with a figure of 3549.7, This is better than the previous number of 3606.3.

A look at other markets shows behavior that usually indicates a green move for the Euro/Pound as Pound/Yen drops to 139.18 (57 pips).

In the meantime, USD/MXN is trading around 19.9954 after starting the session at 19.947 (up 0.24%).

Before this recent uptick, Euro/Pound got as close as 14 pips to the support line at 0.89. Dipping below it might have indicated further losses are ahead. At 0.8919, Euro/Pound made an initial breakout above the 5 day Simple Moving Average. The lower Bollinger band is at 0.8866, indicating further gains might be next. Overall, looking at all the technical indicators, it seems the Euro/Pound pretty hot and will continue pointing upward in the short term.

The market is looking forward to French Consumer Spending, projected to outperform the last figure at 2.9, while it previously stood at -5.1, figure will be published tomorrow at 7:45 AM. The United Kingdom Nationwide HPI (MoM) expected to decline to 0.2, while its preceding data was 0.8, Data will be available tomorrow at 7:00 AM. The United Kingdom Nationwide HPI (YoY) is projected to rise to 5.9, beating the previous 5.8 figure. Official data is expected tomorrow at 7:00 AM.

Nov. 25, 2020

With no major movement Euro/Pound is parked at 0.8904

(22:21) GMT

This limbo state for Euro/Pound is reflected by market data published as Germany Business Climate Index released on Tuesday at 9:00 AM is better than expected at 90.7 but down from preceding data of 92.5 according to new data. Germany's GDP comes out at -3.9, above the estimate of -4.1. This is also a step forward from the previous data of -11.3. Data for Germany Current Assessment (Nov) released on Tuesday at 9:00 AM is better than expected with 90, but worse than the previous figure of 90.4.

Meanwhile, mixed performances were seen elsewhere as the Pound/Yen rallied beyond 139.86 for the first time in 2 months. EUR/CAD is trading around 1.5494 after starting the session at 1.5456 (up 0.24%).

The Euro/Pound nearest support level is too vague to call at the moment, resistance level is at 0.9033. The lower Bollinger band is at 0.8869, indicating a positive move might be next. Overall, looking at all the technical indicators, it seems the Euro/Pound might be pointing upward in the short term.

Data to be released later might clear up some of the fog for Euro/Pound as the Euro Zone ECB Publishes Account of Monetary Policy Meeting is expected tomorrow at 11:30 AM. The Euro Zone ECB Monetary Policy Statement is excepted tomorrow at 12:30 PM. Germany's GfK Consumer Climate (Dec) is expected to come out at -5 when it's released tomorrow at 7:00 AM, This is a decline from the preceding data which was -3.1.

Nov. 24, 2020

At 0.8873 Euro/Pound down to its lowest value in 5 months

(22:21) GMT

After opening at 0.8884, EUR/GBP dropped to its lowest point in 5 months at 0.8873. It later recovered 28 pips and is now trading at 0.89.

The Euro/Pound green move takes place amid mixed market indicators – The United Kingdom Composite PMI released on Monday at 9:30 AM is better than expected at 47.4 but down from preceding data of 52.1 according to new data. The Data for Germany Business Climate Index released today at 9:00 AM is better than expected with 90.7, but worse than the previous figure of 92.5.

Meanwhile, Germany's GDP comes out at -3.9, above the estimate of -4.1. This is also a step forward from the previous data of -11.3.

The nearest resistance level is at 0.9033, followed by 0.9133 at the next level. The lower Bollinger band is at 0.8874, indicating further gains might be next.

EUR/CAD dropped -0.2% (31 pips) to 1.5454.

In the meantime, pound hit 1.338, highest rate in 2 months. A new 2 month high for the pound/yen at 139.84. USD/MXN is down to 20.0058, losing 138 pips after opening at 20.1442.

The market is looking forward to the United Kingdom's Autumn Budget, which is scheduled for tomorrow at 3:30 PM. France Jobseekers Total is expected tomorrow at 11:00 AM. German Buba Mauderer's speech is scheduled tomorrow at 7:40 AM. The Euro Zone ECB Financial Stability Review is scheduled to come out tomorrow at 9:00 AM.

Nov. 23, 2020

Euro/Pound down to 0.8865, the last time it was this low was 6 months

(22:21) GMT

After opening at 0.8922, EUR/GBP dropped to its lowest point in 6 months at 0.8865. It later recovered 19 pips and is now trading at 0.8884.

This downslide might be related to financial indicators data published earlier, as the United Kingdom Composite PMI released today at 9:30 AM is better than expected at 47.4 but down from preceding data of 52.1 according to new data.

Meanwhile, Euro Zone Services PMI published today at 9:00 AM came out at 41.3, falling short of the 42.5 projections and continuing its decline from the previous 46.9 figure. The Euro Zone Composite PMI fell short of the 45.8 projections, with 45.1 and continued its downward trajectory from the previous figure of 50.

The Euro/Pound nearest resistance level is at 0.9033.

Taking a wider perspective, performance of these other symbols usually suggests a setback for Euro/Pound as Pound/Yen is trading around 139.17 after starting the session at 138 (down 0.85%). EUR/CAD dropped -0.3% (46 pips) to 1.5481.

At the same time, pound/dollar is trading around 1.3324 after starting the session at 1.3291 (up 0.24%). USD/MXN is trading around 20.1338 after starting the session at 20.0937 (up 0.2%).

The market will keep its eye on the following upcoming macroeconomics indicators: Germany's Business Climate Index looks to be getting worse with an expected 90.7 while the preceding figure was 92.7, New data will be released tomorrow at 9:00 AM. Euro Zone ECB President Lagarde's speech is expected tomorrow at 2:00 PM. The United Kingdom Autumn Budget is scheduled to come out tomorrow at 4:00 PM. Germany Current Assessment (Nov) expected to decline to 87.2, while its preceding data was 90.3, Data will be available tomorrow at 9:00 AM.