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EUR/GBP Nearing Resistance Cluster

fxsurprise8 Posted 30 Sep. as Analysis on EUR/GBP, Target: 0.8657, Date: 1st of November, 12:00 GMT  in #Technical analysis #GBP #Euro #Resistance #Volatility #Rally #EUR/GBP #Pound #Atr #Brexit
After a long rally that saw the EUR/GBP advance in 8 out of the last 10 months, the pair may finally hit a roadblock. We are nearing a cluster of resistance levels. They start with 0.8724, last month's high, continue with 0.8768 (August 2013 high) and end with 0.8814, a four-year high for this currency pair.
But there are signs that the bull run is slowing down. On the daily chart below notice the constant decline in the Average Daily Range. This is a proxy for volatility. Furthermore since reac…
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Range Continues to Constrict in the EUR/GBP

fxsurprise8 Posted 31 Aug. as Analysis on EUR/GBP, Target: 0.8491, Date: 3rd of October, 12:00 GMT  in #Technical analysis #GBP #Euro #Volatility #EUR/GBP #Pound #Summer Trading #Range Bound #Atr #Brexit
After a volatile start to the summer (with the Brexit commotion), the EUR/GBP is slowly calming down. Volatility continues to decline. While June had a range of close to 800 pips, in July the low to high movement was only 377 pips. And this month the range dropped even lower to 279 pips. Meanwhile the open to close range is at even smaller at 45 pips. On the chart below we can see volatility declining in the EUR/GBP.
But volatility isn't everything. Currencies can continue to grind higher or lo…
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fxsurprise8 29 Sep.

So far the monthly range stands at only 383 pips. The high stands at 0.8716 while the low is at 0.8333.

Open to close we're at +149 pips. This is a bit higher volatility then I expected.

But even so, we're currently quoted at 0.8649, less then 150 pips away from my target. I just need a few down days to bring me closer to my forecasted price :)

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fxsurprise8 30 Sep.

We're seeing small declines today in the EUR/GBP but they're not deep enough to bring me substantially closer to my target.

Today we opened at 0.8651, moved to a high of 0.8661 only to fall to a low of 0.8604 later in the day. We're now trading at 0.8635, still a good 144 pips away from the forecast. I need more GBP strength to nudge the pair closer to the target.

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