EUR/GBP Outlook: Cross Heads Higher as Pound Comes Under Fresh Pressure
The cross regained traction and bounced from strong support at 0.8790 (200SMA/broken Fibo 50% of 0.9113/0.8471), which contained brief pullback from new 5 1/2 month high at 0.8850, posted last Friday. Sterling took a breather after steep fall in past...
GBPAUD Touches Uptrend Line, Maintains Short-Term Bearish Bias
GBPAUD has touched the ascending trend line, which has been holding since December 2018, trading below the flat short-term moving averages. The RSI is moving sideways below the neutral threshold of 50, while the stochastic oscillator is moving in the...
GBP/USD And USD/CAD Signaling More Upsides
GBP/USD is slowly recovering and it is currently trading above 1.2680. USD/CAD is likely to resume its upward move above the 1.3550 and 1.3580 resistance levels. Important Takeaways for GBP/USD and USD/CAD The British Pound declined close to the 1.2600...
EURAUD Positive in Near Term, Neutral in Medium Run
EURAUD recorded decent gains in the past month, crossing above its 50- and 200-day simple moving averages (SMAs) to touch 1.6260, a high last seen in January. The short-term picture thus seems positive, though for the medium-term outlook to turn...
GBP/USD Outlook: PM May Announced Her Resignation, Opening a Number of Brexit Scenarios
Cable regained traction and quickly recovered from half a cent dip on announcement of the day of Theresa May’s resignation and regained levels above 1.2700 handle. May’s announcement that she will resign as Prime Minister on 7 June opens a...
GBPUSD Bullish Pattern Building
The British pound has reversed sharply higher against the greenback following continued broad-based weakness in the US dollar index. The four-hour time frame is showing that bullish inverted head and shoulders pattern has emerged, with the pattern holding a one-hundred...
EURUSD Struggling With 1.1190
The euro is struggling to move above the 1.1190 level against the US dollar as the implications of the European election results weigh on the single currency. If the EURUSD pair continues to struggle with the 1.1190 level a technical...
GBP/USD Tests 100-Hour Moving Average
On Thursday, the GBP/USD exchange rate rised to the 55-hour moving average, currently located at 1.2662. During today’s morning, the rate tested the resistance formed by the 100-hour SMA at 1.2690. If the given resistance holds, it is expected, that...
USD/JPY Dropped To Fibo 50.00%
Yesterday, the USD/JPY currency pair dropped to the support level formed by the Fibonacci 50.00% retracement at 109.58. During Friday’s morning, the pair was trying to surpass the given support. If it holds, a reversal north could occur within the...
XAU/USD Likely To End down
On Wednesday, the price for gold skyrocketed the resistance level formed by the monthly PP at the 1,287.27 mark. Given that the XAU/USD exchange rate is pressured by the 200-hour SMA, currently located at 1,284.88, it is likely, that some...
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