EUR/GBP stuck in a range, holds comfortably above 0.9100 mark


  • EUR/GBP lacked any firm directional bias and remained confined in a range.
  • Investors refrained from placing fresh bets amid absent relevant triggers.

The EUR/GBP cross seesawed between tepid gains/minor losses through the mid-European session and was last seen hovering in the neutral territory, around the 0.9125 region.

Following the previous day's rather volatile price swings, the cross now seems to have entered a consolidation phase in the absence of any fresh catalyst. It is worth recalling that the EUR/GBP cross witnessed a dramatic turnaround on Thursday and rallied around 90 pips from one-week lows after the Bank of England said that it had briefed policymakers on how negative interest rates could be implemented.

The strong intraday positive move lost steam near the 0.9170 region in reaction to optimistic Brexit comments by the European Commission President Ursula von der Leyen, saying that a trade deal between the EU and the UK is still possible. As investors digested the overnight developments, the EUR/GBP cross struggled to a firm direction and was confined in a range through the first half of the trading action on Friday.

Nevertheless, the EUR/GBP cross remains on track to end the week with heavy losses, eroding a part of the last week's strong positive move to the 0.9300 neighbourhood, or six-month tops.

Technical levels to watch

EUR/GBP

Overview
Today last price 0.9127
Today Daily Change -0.0005
Today Daily Change % -0.05
Today daily open 0.9132
 
Trends
Daily SMA20 0.9034
Daily SMA50 0.904
Daily SMA100 0.899
Daily SMA200 0.8815
 
Levels
Previous Daily High 0.917
Previous Daily Low 0.9083
Previous Weekly High 0.9292
Previous Weekly Low 0.8929
Previous Monthly High 0.907
Previous Monthly Low 0.8909
Daily Fibonacci 38.2% 0.9137
Daily Fibonacci 61.8% 0.9116
Daily Pivot Point S1 0.9087
Daily Pivot Point S2 0.9042
Daily Pivot Point S3 0.9001
Daily Pivot Point R1 0.9174
Daily Pivot Point R2 0.9215
Daily Pivot Point R3 0.926

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.

EUR/USD News

GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.

GBP/USD News

XAU/USD pares early gains, turns flat near $1,900

For the third straight trading day on Tuesday, the XAU/USD pair is moving sideways above $1,900 as participants wait for the next significant catalyst. After climbing to a daily high of $1,910 earlier in the day, the pair lost its traction and was last seen trading virtually unchanged on the day at $1,902.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures