British Pound (£) ⇨ Euro (€) (GBPEUR) The Ulitmate Brexit Trade

British Pound (£) ⇨ Euro (€) (GBPEUR) The Ulitmate Brexit Trade

British Pound (£) ⇨ Euro (€) (GBPEUR) The Ulitmate Brexit Trade 

Highlights:

  • Euro sees off Macron victory with a gallic shrug
  • Euro drops after rising to six-month high
  • Long GBP Short EUR
  • Labour will make Britain a force for good
  • Britain’s BT sets out ambition for ultrafast broadband

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 1.20.

The projected lower bound is: 1.17.

The projected closing price is: 1.18.

FOREX GBPEUR=R closed down -0.003 at 1.183. Volume was 66% below average (consolidating) and Bollinger Bands were 36% narrower than normal.

Open      High      Low        Close     Volume
1.186      1.187      1.182      1.183      86,143

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:                       1.18                 1.17                 1.16
Volatility:                6                      9                      11
Volume:                   196,526         231,917          248,030

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
FOREX GBPEUR=R is currently 1.7% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of GBPEUR=R at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on GBPEUR=R and have had this outlook for the last 0 periods.

HEFFX Momentum
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 62.8081. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 51.90. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 17 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 20. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 13 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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