Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/GBP Daily Outlook

Chart - Courtesy Trading View 

Spot Analysis:

EUR/GBP was trading largely unchanged on the day at 0.8417 at around 09:05 GMT

Previous Week's High/ Low: 0.8588/ 0.8520

Previous Session's High/ Low: 0.8426/ 0.8383

Fundamental Overview:

ECB's Lagarde says the conditions to raise rates are very unlikely to be satisfied next year.

Euro likely to remains under pressure after dovish comments from Lagarde.

Technical Analysis:

- GMMA indicator shows major and minor trend are bearish

- Price action is below major moving averages which are trending bearish

- Momentum is bearish, Stochs and RSI are sharply lower, RSI is well below the 50 mark

- MACD and ADX support downside in the pair

Major Support and Resistance Levels:

Support - 0.8367 (Lower BB), Resistance - 0.8424 (5-DMA)

Summary: EUR/GBP trades with a bearish bias. Recovery attempts lack traction. Dovish comments from ECB's Lagarde keep downside pressure. 
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.