(VIANEWS) – The EUR/GBP cross continued to rise during the mid-European session, reaching near two-month highs in the 0.8670 zone in the past hour.
According to FXStreet, the cross capitalized on the previous day’s bullish breakout momentum through the 100-day simple moving average and acquired some significant follow-through impetus on Tuesday despite the strongly offered tone surrounding the pound.
In recent months, the deadlock on the Northern Ireland Protocol of the Brexit deal has strained relations between the United Kingdom and the European Union. This, along with the recurrence of COVID-19 infections in the United Kingdom, served as a headwind for the British pound, providing a significant rise to the EUR/GBP cross.
EUR/GBP (EURGBP) is currently on bullish momentum. At 06:09 EST on Wednesday, 21 July, EUR/GBP (EURGBP) is at 0.8638, 1.43% up since the last session’s close.
EUR/GBP (EURGBP) Range
Regarding EUR/GBP’s daily highs and lows, it’s 1.6% up from its trailing 7 days low of $0.85 and 0.104% down from its trailing 7 days high of $0.86.
EUR/GBP’s yearly highs and lows, it’s 2.565% up from its 52-week low and 7.018% down from its 52-week high.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, EUR/GBP’s Forex is considered to be oversold (<=20).
Last news about EUR/GBP (EURGBP)
Eur/gbp price analysis: 50-dma tests multi-day-old resistance break. According to FXStreet on Monday, 19 July, “However, firmer RSI, as well as the pair’s higher-high and higher-low bullish formation, keeps EUR/GBP buyers hopeful.”, “On the flip side, a daily closing below the resistance-turned-support line around 0.8575 will direct short-term EUR/GBP sellers to June’s low of 0.8530 but the monthly bottom close to the 0.8500 round figure will challenge the quote’s extra downside.”
Eur/gbp eases from 1-1/2-month tops, flat-lined around 0.8625-30 region. According to FXStreet on Tuesday, 20 July, “The combination of factors acted as a headwind for the sterling, which turned out to be a key factor that continued pushing the EUR/GBP cross higher on Tuesday. “, “This, in turn, kept a lid on any strong gains for the EUR/GBP cross, at least for the time being. ”
Eur/gbp jumps to near two-month tops, around 0.8670 region. According to FXStreet on Tuesday, 20 July, “The EUR/GBP cross continued scaling higher through the mid-European session and shot to near two-month tops, around the 0.8670 region in the last hour.”, “This, along with the resurgence of the COVID-19 infections in the UK, acted as a headwind for the British pound and provided a strong lift to the EUR/GBP cross.”
News about EUR/USD
Eur/usd price analysis: prints falling wedge around key support line near 1.1800. According to FXStreet on Monday, 19 July, “In a case where the EUR/USD bears keep the reins past 1.1700, the November 2020 lows near 1.1600 will be in the spotlight.”, “If at all the EUR/USD up-moves remain intact beyond 1.2008, lows marked in May and early June around 1.2050 and 1.2100 should return to the chart.”
Eur/usd challenges 3-month lows near 1.1770. According to FXStreet on Monday, 19 July, “The selling pressure around the European currency remains unabated for yet another session and now forces EUR/USD to shed further ground and record new 3-month lows in the 1.1765/60 band.”, “The resumption of the downside in EUR/USD now flirts with the key 2020-2021 support line in the 1.1770/80 band. ”
Eur/usd rebounds from monthly lows toward 1.1825. According to FXStreet on Monday, 19 July, “The EUR/USD rebounded sharply from its lowest level since April, below 1.1770, and printed a fresh daily high at 1.1825. ”
According to DailyForex on Sunday, 18 July, “For the month of July, we forecasted that the EUR/USD currency pair will fall in value, while the USD/JPY currency pair will rise in value. ”
Eur/usd sellers flirt with 1.1800 as risk aversion backs USD bulls. According to FXStreet on Monday, 19 July, “Although a sustained trading below 200-DMA, around 1.2000, keeps EUR/USD sellers hopeful, the monthly low near 1.1770 and a one-month-old descending support line around 1.1700 challenge the pair’s further downside.”, “It’s worth noting that the gradually firming up US-China tussles also drown the EUR/USD prices. ”
More news about EUR/GBP (EURGBP).