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by Ashraf Laidi
Posted: Mar 2, 2009 13:30
Comments: 1
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This thread was started in response to the Hot-Chart:

EURGBP Bullish Turn

 
   
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Justin Lee
HK, Hong Kong
Posts: 16
15 years ago
Mar 7, 2009 12:53
Hi Ashraf,

I would like to add some comments. EUR/GBP Daily Chart is also supported by 95 SMA since Feb 2009, and as the momentum indicator MACD is crossing over, I agree that the pair will have an upside bias towards 0.95.

Besides, the QE implemented by BoE may prompt the pound more bearish against other major currencies as well, since the yield for the long Gilt may be suppressed and appears to underperform other major currencies.

Other GBP crosses are turning more bearish after the policy meeting. One thing to note that the upside for the GBP/AUD is capped by 100 SMA in daily chart and is likely to fall back to 2.17 next week.
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