Monthly: Since posting large nett losses in September 2017 (-395 pips) the cross has moved sideways. Price action on March (2018) has seen a bearish Outside Month posted and offers a mild downward bias. Notable support is located at 0.8303 Weekly:  The 161.8% extension level from the 0.9299-0.8682 move is located at 0.8303, just below the...

2018-04-20 Ian Coleman Read more
EURGBP - AB=CD formation and 50% to limit buying

Monthly: Since posting large nett losses in September 2017 (-395 pips) the cross has moved sideways. Price action on March (2018) has seen a bearish Outside Month posted and offers a mild downward bias. Notable support is located at 0.8303 Weekly:  The 161.8% extension level from the 0.9299-0.8682 move is located at 0.8303, just below the...

2018-04-16 Ian Coleman Read more

Last week, the Bank of England hiked interest rates for the first time in nearly a decade by 25 basis points. The rate hike was widely expected, and the BoE Governor Mark Carney hinted that future rate hikes would be limited and gradual. Despite the rate hike, the British pound sold off on the event. This came as the BoE's gave a downgraded vie...

2018-01-25 John Benjamin Read more
Bank of England

The Bank of England's monetary policy meeting is scheduled for today. The central bank is expected to hike interest rates by 25 basis points at today's meeting. The rate hike comes amid continued uncertainty on both the economic and the political front. The expected rate hike today will be the first from the BoE since July 2007, marking a decad...

2017-12-12 John Benjamin Read more
Theresa May_Brexit_Negotiations_1906

The common currency was seen giving up more than half the gains made last week as price action in EURGBP was bearish. Closing at 0.8892 on Friday, EURGBP, however, remains supported above 0.8837 level of support. The gains in the euro came about as the Brexit talks continued but with no significant progress made. The euro initially rose last we...

2017-10-22 John Benjamin Read more

On the weekend, the German elections concluded with the incumbent, Angela Merkel's CDU/CSU party winning the elections albeit losing some votes to the fringe parties. The sentiment in the euro was a bit dented as a result. Against the British pound, the euro closed last Friday at 0.8833 and opened on Monday at 0.8814. The EURGBP is still to pos...

2017-10-22 John Benjamin Read more
BoE_Sterling_GBP

For the 2nd time in almost one year, the EUR/GBP exchange rate attempts and fails to hit the headline-grabbing parity level 1-1.  During the Eurozone crisis, a popular opinion backed the euro to fall towards the GBP 0.50 level.  After the Brexit referendum, popular views shifted towards expecting GBP 1.0 per one euro. But EURGBP is down 5% this ...

2017-10-22 Ashraf Laidi Read more
30th August, 2017 Erlangen, Germany A crowd of CSU and CDU supporters listen to Angela Merkel speaking in the run up to the German general election

The common currency has been supported by a string of positive economic developments. The ECB’s meeting also helped traders to maintain their bullish outlook for the euro. As the clock ticks closer to the German elections which are now just a week away, traders are likely to turn cautious. The rally in the euro has been strong and swift. Most...

2017-10-22 John Benjamin Read more
BOE GBP

Rates Unchanged But Hawkish Signals Support GBP GBP soared to fresh 2017 highs against the US Dollar today as the latest Bank of England meeting marked a further hawkish shift. Although the MPC voted 7 – 2 to keep rates on hold, there were clear indications that the bank is getting ready to raise rates. The minutes of the meeting, released alo...

2017-10-22 James Harte Read more
Euro and sterling

The common currency is probably heading into posting a second yearly gain against the British pound. Having rallied close to 2009 highs, the euro is seen taking a breather. The euro, which fell to 2007 levels of 0.70 just a year ago has transformed into a strong rally. The gains in the common currency came despite the eurozone facing the immigr...

2017-09-08 John Benjamin Read more