EURGBP tries to rise with more work to do

the EURGBP

EUR/GBP

The EUR/GBP is the currency pair comprising the single currency of the European Union, the euro (symbol €, code EUR) and the British pound of the United Kingdom (symbol £, code GBP). The price of the pair indicates how many pounds sterling are needed to buy one euro. For example, when EUR/GBP is trading at 0.7500, it means that 1 euro equals 0.75 pounds sterling. The Euro is the second most traded currency in the world, while the British Pound (GBP) is the third most traded currency in the world, which results in a relatively liquid trading pair. While currency pair spreads vary from broker to broker, EUR/GBP often stays within the 1 pip to 3 pip spread range. This may make it appear to be a decent candidate for scalping, although its low range may be a similar troublesome factor to EUR/CHF. What makes EUR/GBP unique? However, EUR/GBP intraday trading generally requires more patience than other pairs. From a technical point of view, it follows that the EUR/USD and the GBP/USD being positively correlated, the volatility of the EUR/GBP will be lower than the two previous ones. majors’. Perhaps more than any other, this currency pair has been continuously affected by the ongoing Brexit talks in the UK. Currently, there is no consensus on how the situation will be resolved, which has influenced EUR/GBP and will until a resolution is agreed.

The EUR/GBP is the currency pair comprising the single currency of the European Union, the euro (symbol €, code EUR) and the British pound of the United Kingdom (symbol £, code GBP). The price of the pair indicates how many pounds sterling are needed to buy one euro. For example, when EUR/GBP is trading at 0.7500, it means that 1 euro equals 0.75 pounds sterling. The Euro is the second most traded currency in the world, while the British Pound (GBP) is the third most traded currency in the world, which results in a relatively liquid trading pair. While currency pair spreads vary from broker to broker, EUR/GBP often stays within the 1 pip to 3 pip spread range. This may make it appear to be a decent candidate for scalping, although its low range may be a similar troublesome factor to EUR/CHF. What makes EUR/GBP unique? However, EUR/GBP intraday trading generally requires more patience than other pairs. From a technical point of view, it follows that the EUR/USD and the GBP/USD being positively correlated, the volatility of the EUR/GBP will be lower than the two previous ones. majors’. Perhaps more than any other, this currency pair has been continuously affected by the ongoing Brexit talks in the UK. Currently, there is no consensus on how the situation will be resolved, which has influenced EUR/GBP and will until a resolution is agreed.
Read this term rose slightly today, but in the process is back above its 100 hourly moving average currently at 0.82862.

The pair initially broke above this moving average but found willing sellers against a swing zone between 0.82936 and 0.82987. EURGBP price is back down and below the 100 hourly moving average, but based near yesterday afternoon’s lows and earlier today near 0.8278.

The subsequent return to the upside broke above the 100 hourly moving average, the aforementioned swing zone down to 0.82987 and up to the 200 hourly moving average (green line) near 0.8313. This 200 hourly moving average blocked the upside, and the price has since moved back towards the swing zone.

Needless to say, there are ups and downs, but there are also positive technical developments (based on swing lows, moved above the 100 hourly moving average).

However, breaking the 200-hour moving average is still a requirement if buyers are to be taken more seriously (and assume more near-term control).

Without this, and a rotation below the 100 hourly moving average and the 0.8278 level, traders would look to the extreme April lows at 0.8259 and 0.8249.

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