EUR/GBP Live News

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Feb. 21, 2024

Euro-Pound has been up for four days in a row, gaining 9 pips to reach 0.857.

Live - Updated 44 minutes ago.

After closing the previous trading day at 0.8561, Euro-Pound is up to 0.857, which makes for a move of 0.11%/9 pips today.

Meanwhile, Germany 10-Year Bund Auction released today at 10:30 UTC with a figure of 2.38, while the previous figure was 2.23.

Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at 0.8572, thereby suggesting that Euro-Pound is becoming overvalued.

Overall, while Euro-Pound has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

A look at other currencies also shows bullish price action as having closed the previous session at 162.08, EUR/JPY is up 0.28% today to currently trade at around 162.53. USD/JPY is up 0.26% to 150.31. GBP/JPY gained 0.21% and is currently trading at 189.63.

Furthermore, the market is looking at Euro Zone Consumer Price Index figure is projected at 2.8%. It previously stood at 2.9%; data will be released tomorrow at 10:00 UTC. Euro Zone Consumer Price Index is expected tomorrow at 10:00 UTC. Euro Zone Core Consumer Prices is expected tomorrow at 10:00 UTC.

Trading mostly sideways for 3 months. The current year has not been the best for Euro-Pound as it lost 58.91% from its highest point of 0.8913.

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Week to date

Euro-Pound ends yesterday stable around 0.857 .

Trading week at a glance - EUR/GBP is up to 0.857, after closing yesterday at zero. Overall, a 0% move or 8,569 pips this week. (Start trading Euro-Pound at FXTM today).

Uptick comes while some more positive signs for Euro-Pound are out as data for United Kingdom GDP released Thursday is better than expected with -0.1%, but worse than previous figure of 0.2%.

On the flip side, GDP in United Kingdom fell short of market expectations (0.1%) with a reading of -0.2%, continuing the decline from the previous figure of 0.2%. Highly important GDP data from United Kingdom beat analyst expectations of -0.1 with a reading of -0.3.

At the same time, Germany 10-Year Bund Auction released today at 10:30 UTC with a figure of 2.38, while the previous figure was 2.23. Euro Zone CFTC EUR speculative net positions came out at 52,800.

Outlook for rest of the week: Positive indicators for Euro-Pound are expected going forward as Germany GDP expected to decline to -0.3 while its preceding data was -0.1, data will be available Friday.

Also worthy of note, Euro Zone Consumer Price Index is expected tomorrow at 10:00 UTC. Germany GDP is projected to outperform its last figure with -0.2%. It previously stood at -0.4%; data will be released Friday.