EURGBP

Forex Trading: GBP continues to be the whipping dog

Greg Michalowski — Wed, 08 Oct 2008 11:54:19 -0400

The GBPUSD is down.
The GBPJPY is down.
The GBPCHF is down.
The EURGBP is higher.

Forex Trading: The EURGBP flying higher

Greg Michalowski — Wed, 08 Oct 2008 10:32:30 -0400

The EURGBP has moved through the 200 hour moving average at the 0.7857 level, This has helped drag the GBPUSD lower below the key 1.7421 level (see previous posts), while moving the EURUSD above the 100 hour moving average currently at 1.3669. A big move in the cross makes dollar trading even more difficult as traders hedge the exposure in the EURGBP by trading the EURUSD and GBPUSD. So you see the dollar getting weaker against the EURO but stronger against the Pound Sterling.

Forex Trading: Whoops! Don't mess with EURGBP. Breaking through 100 day moving average

Greg Michalowski — Thu, 11 Sep 2008 09:17:15 -0400

The EURGBP is breaking through the 100 day moving average (see chart above)which has put pressure back on the pair. The 100 day moving average comes in at 0.7929. The pair should remain under pressure. If it breaks back above the level (stop above 0.7938), then something else is up.

Forex Trading: EURGBP took another lap down overnight. Tests 100 day moving average

Greg Michalowski — Thu, 11 Sep 2008 08:09:10 -0400

Forex Trading: EURGBP has little in the way of bounce

Greg Michalowski — Wed, 10 Sep 2008 15:09:38 -0400

The EURGBP is showing little in the way of a bounce after moving sharply lower to the 50% retracement level at 0.7990. The pair is being pressured today by continued selling of the EURO and the feeling that the GBP has sold off enough - for now at least. In the UK their Trade Balance showed the highest level of exports in 2 years earlier this morning. As the pound weakens it makes exports more competitive abroad.

Forex Trading: While EURUSD and EURJPY gets hit....so too does EURGBP

Greg Michalowski — Wed, 10 Sep 2008 11:32:53 -0400

The EURGBP has joined the party as traders liquidate positions in that pair. As noted over the last few days, the EURGBP failed on a break above the highs at 0.8097. When the pair traded below the level again on Sep 5th, steady selling ensued. The pair has sold off sharply over the last few hours as selling in the entire EURO complex intensifies.

EURGBP moving lower as well as sellers of the EURO intensify

Greg Michalowski — Mon, 08 Sep 2008 12:27:13 -0400

The EURGBP is also coming under pressure. The pair has moved from the 0.8058 level earlier to 0.8041 currently (see earlier post by clicking here). The pair broke through the old highs on Friday at 0.8096 and the 200 hour moving average. There is a lot of resistance building at the old high level. The 100 and 200 hour moving averages are both converging at that level. This should keep the shorter term bears in charge for the time being. A break above negates the sentiment of course.

EURGBP being watched for clues to the relative strength of the two currencies

Greg Michalowski — Mon, 08 Sep 2008 10:17:26 -0400

The EURGBP reached a new high last week surpassing the April 2007 high of 0.8096 and moving to a high of 0.8186 on September 4th. On Friday, the pair moved back below the old high and also moved below the 200 hour moving average for the 1st time since August 19th. As a result the intermediate term trend moved to Bearish.

The 200 hour moving average is currently at 0.8089 while the old high of 0.8096 looms just above that level. The current price is 0.8058 with the high for the day at 0.8076. I would expect traders to short against these levels with stops if the pair can get back above the 0.8096 level.

Forex Trading: EURGBP testing the support

Greg Michalowski — Thu, 04 Sep 2008 12:39:26 -0400

The EURGBP is approaching the 0.8097 old high support. A move below should trigger stops.

Forex Trading: EURGBP falls on Juncker comments

Greg Michalowski — Thu, 04 Sep 2008 10:57:15 -0400

The EURGBP has come under pressure on Juncker comments that the EURO was overvalued versus the USD and other currencies.

The EURGBP traded to new highs this week, breaking through the highs at 0.8097 reached in April. A break back below this level today should solicit selling as the break fails. The low so far has been 0.8102 as buyers hold the line. Stops will be triggered below the level however.