• Contact Us
  • Homepages
Most Forex
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
Most Forex
No Result
View All Result
Home Technical Analysis

EUR vs GBP Price – Waiting for Upside Break

Forex Tips by Forex Tips
June 27, 2020
in Technical Analysis
0
EUR vs GBP Price – Waiting for Upside Break
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


EUR/GBP Technical Analysis

  • Eyes on the EU-UK negotiations updates
  • Bullish signals on EUR vs GBP price chart

EUR/GBP Price – Multi-Week High

On Friday, EUR/GBP took off to a near three-month high at 0.9072 then closed the weekly candlestick in the green with a 0.8% gain.

The EU-UK negotiations continue to be one of the market movers. This week, the EU chief Brexit negotiator Barnier stated that: “The ball is in the UK’s court ” and added that the UK would be more affected than the EU if trade tariffs kick in, meaning that Europe would not cut a deal at any cost.

EUR/GBP DAILY PRICE CHART (Aug 1, 2018 – June 26, 2020) Zoomed Out

EURGBP daily price chart 26-06-20. zoomed out

How to Use IG Client Sentiment in Your Trading

How to Use IG Client Sentiment in Your Trading

Recommended by Mahmoud Alkudsi

Improve your trading with IG Client Sentiment Data

EUR/GBP DAILY PRICE CHART (May 13 – June 26, 2020) Zoomed In

EURGBP daily price chart 26-06-20. zoomed in

On June 18, EUR/GBP broke above the downtrend line originated from the May 29 high at 0.9054, and generated a bullish signal. Yesterday, the price rebounded from the aforementioned line then climbed back to the current trading zone 0.9015 – 0.9149 highlighting that bullish bias was still intact.

Another close above the low end of the zone signals that bulls may push towards the high end of it. A further close above that level could encourage bulls to extend the rally towards 0.9248.

On the other hand, a close below the low end reflects the bull’s hesitation and this could send EURGBP towards 0.8912. Any further close below that level may send the market even lower towards 0.8832.

Building Confidence in Trading

Building Confidence in Trading

Recommended by Mahmoud Alkudsi

Building Confidence in Trading

EUR/GBP FOUR HOUR PRICE CHART (June 6 – June 26, 2020)

EURGBP four hour chart 26-06-20

On Monday, EURGBP corrected its upward trend and started a sideways move creating lower highs with higher lows. Therefore, a break above the higher line of the bullish rectangle would be considered a bullish signal, while any violation of the uptrend line originated from the April 30 low would be considered a bearish signal.

To conclude, a break below 0.8988 could send EURGBP towards 0.8912 while, any break in above 0.9090 may trigger a rally towards the high end of the current trading zone discussed above on the daily chart. That said, the weekly support and resistance levels marked on the four-hour chart should be watched closely.

Traits of Successful Traders

Traits of Successful Traders

Recommended by Mahmoud Alkudsi

Traits of Successful Traders

Written By: Mahmoud Alkudsi, Market Analyst

Please feel free to contact me on Twitter: @Malkudsi





Source link

Share76Tweet47

Related Posts

USD/MXN Picks Up Buyer Support

by Forex Tips
January 17, 2021
0

USD/MXNTechnical Forecast: Neutral Not much has changed in the USD/MXN daily chart since I talked about it last week....

US Dollar Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP

USD Surges as Index Rebounds off Trend Support

by Forex Tips
January 17, 2021
0

US Dollar Technical Price Outlook: DXY Weekly Trade LevelsUS Dollar technical trade level update – Weekly ChartUSD mounts largest...

Crude Oil Price Struggles For Momentum- Brent Oil Forecast

Pullback at Hand Before Next Leg Higher?

by Forex Tips
January 17, 2021
0

Crude Oil Technical Forecast – BearishCrude oil prices fade just before testing recent yearly high Bearish RSI divergence signals...

GBP Supported by Covid Vaccination Hopes

by Forex Tips
January 17, 2021
0

Sterling (GBP/USD and EUR/GBP) Price, Analysis and Charts:GBP/USD – Two steps forward, one step back. EUR/GBP continues to press...

USD/JPY Triangle Builds into Wedge

by Forex Tips
January 16, 2021
0

USD/JPY Technical Forecast: BullishUSD/JPY started the week by continuing the prior week’s jump, but prices soon ran into a...

Load More

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos
Forex Pulse Detector

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos

Newsletter

  • Home
  • Contact
  • Privacy Policy
  • Store

© 2018 Forex Blog

No Result
View All Result
  • Contact Us
  • Homepages

© 2018 Forex Blog.