(VIANEWS) - EUR/GBP (EURGBP) has been up by 0.88% for the last 5 sessions. At 17:07 EST on Friday, 24 February, EUR/GBP (EURGBP) is $0.88.
Eur/gbp price analysis: pullback moves suggest 0.8780 retest
As a result, the EUR/GBP bears are all set to revisit the latest trough surrounding 0.8780. , On the contrary, a successful break of the 0.8820 resistance confluence isn't an open welcome to the EUR/GBP bulls as the previous support line from January 30, around 0.8830 by the press time, could challenge the upside moves.
EUR/GBP's yearly highs and lows, it's 7.606% up from its 52-week low and 4.417% down from its 52-week high.
Volatility
EUR/GBP's last week, last month's, and last quarter's current intraday variation average was a negative 0.29%, a positive 0.02%, and a positive 0.32%, respectively.
EUR/GBP's highest amplitude of average volatility was 0.33% (last week), 0.34% (last month), and 0.32% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, EUR/GBP's Forex is considered to be overbought (>=80).
Previous days news about EUR/GBP (EURGBP)
- Eur/gbp struggles near 0.8800 mark, seems vulnerable amid boe rate hike bets. According to FXStreet on Wednesday, 22 February, "This, along with sustained US Dollar buying, is weighing on the shared currency and favours the EUR/GBP bears.", "This, in turn, lifts bets for additional interest rate hikes by the Bank of England (BoE), which continues to underpin the British Pound and acts as a headwind for the EUR/GBP cross."
- Eur/gbp: A break below 0.8800 is a tangible possibility in the very near term – ING. According to FXStreet on Wednesday, 22 February, "Economists at ING believe that a move below the 0.88 mark in the EUR/GBP pair is on the cards.", "But we have to admit that a break below 0.8800 in EUR/GBP is a tangible possibility in the very near term, and a recovery from those levels (which is our base case) may only be gradual."
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