Forex Trading: EUR/GBP Remains Bearish Below 0.8140

RELATED QUOTES

SymbolPriceChange
EURGBP=X0.8225+0.0001

As the EURGBP extends the advance carried over from the previous week, we’re seeing the relative strength index quickly approach overbought territory, and the European Central Bank (ECB) and Bank of England (BoE) interest rate decisions may serve as the fundamental catalyst to spark a sharp reversal in the exchange rate. Beyond the rate announcement, dovish rhetoric from President Mario Draghi may drag on the euro should the central bank head hint at further monetary support, while the BoE may refrain from releasing a policy statement as the Monetary Policy Committee (MPC) maintains a neutral policy stance. In turn, we will wait for a reversal in the RSI for confirmation, and will preserve our bearish forecast for the pair as it appears to be carving a lower top ahead of 0.8140-50, the 0.786% Fib from 2008 low to the 2009 high.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.25090.000.00%
    USDSGD=X
    1.7283+0.00010.00%
    EURSGD=X
    2.1011-0.0002-0.01%
    GBPSGD=X
    81.7407+0.0043+0.01%
    SGDJPY=X
    6.1991+0.00030.00%
    SGDHKD=X
    2.5919+0.00010.00%
    SGDMYR=X
    9,146.6553+3.6377+0.04%
    SGDIDR=X
    4.9747+0.0017+0.03%
    SGDCNY=X
    1.1718-0.0001-0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,302.30-1.20-0.09%
    GCM14.CMX
    19.65+0.02+0.08%
    SIK14.CMX
    90.83-1.04-1.14%
    ^XAU
    3.03+0.01+0.20%
    HGK14.CMX
    103.80+0.05+0.05%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.65+0.04
    ^FVX
    2.64+0.01
    ^TNX
    3.45-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.117-0.006-4.88%
    B22.SI
    1.275+0.020+1.59%
    N21.SI
    2.190.0000.00%
    JS8.SI
    0.605+0.015+2.54%
    E5H.SI
    0.97+0.060+6.59%
    B20.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.445+0.055+14.10%
    5UL.SI
    0.20+0.020+11.11%
    567.SI
    0.174+0.013+8.07%
    540.SI
    0.67+0.050+8.06%
    5VT.SI
    0.425+0.030+7.59%
    5FD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.096-0.011-10.28%
    S13.SI
    0.315-0.025-7.35%
    O08.SI
    0.139-0.010-6.71%
    5GB.SI
    0.30-0.020-6.25%
    502.SI
    0.132-0.008-5.71%
    5BM.SI