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EUR/GBP Technical Analysis - EUR/GBP Trading: 2022-07-27
EUR/GBP Technical Analysis Summary
Below 0,84
Sell Stop
Above 0,859
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
EUR/GBP Chart Analysis
EUR/GBP Technical Analysis
On the daily timeframe, EURGBP: D1 has broken down the support line of the growing trend. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if EURGBP: D1 drops below its most recent down fractal: 0.84. This level can be used as an entry point. Initial risk cap is possible above the latest up fractal, 200-day moving average and Parabolic signal: 0.859. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal maximum. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (0.859) without activating the order (0.84), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - EUR/GBP
A strong rise in natural gas prices in Europe could damage the EU economy. Will the EURGBP quotes continue to decline?
On Tuesday, July 26, the cost of natural gas on the European trading platform Title Transfer Facility (TTF Netherlands) exceeded $2,200 per thousand cubic meters. This is a historical maximum for the summer period since the start of trading in 1996. In early June, quotes were below $1,000 per cubic meter. The reason for the rise in prices was the planned reduction in the pumping of Russian gas through the Nord Stream 1 pipeline due to turbine repairs. Rising prices for energy products can have a negative impact on the European economy. On July 29, 2022, preliminary data on inflation for July and GDP for the 2nd quarter, as well as unemployment in Germany in July, will be published in the Eurozone. They may have a negative impact on the euro, as the forecasts look relatively weak. In turn, the cost of natural gas in Britain is much less than in the EU. In addition, forex market participants do not exclude the tightening of monetary policy at the meeting of the Bank of England (rate 1.25%) on August 4, or a positive statement by its management. It can support the pound.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
