EURGBP is so far able to keep a lid on the pair, but will that continue?

The EURGBP EUR/GBP The EUR/GBP is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the British pound of the United Kingdom (symbol £, code GBP). The pair’s rate indicates how many British pounds are needed in order to purchase one euro. For example, when the EUR/GBP is trading at 0.7500, it means 1 euro is equivalent to 0.75 British pounds. The euro is the world’s second most traded currency, whilst the British Pound (GBP) is the world’s third most traded cur The EUR/GBP is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the British pound of the United Kingdom (symbol £, code GBP). The pair’s rate indicates how many British pounds are needed in order to purchase one euro. For example, when the EUR/GBP is trading at 0.7500, it means 1 euro is equivalent to 0.75 British pounds. The euro is the world’s second most traded currency, whilst the British Pound (GBP) is the world’s third most traded cur Read this Term has seen up and down price action today within a fairly narrow trading range. The low price stalled near the lows from last Wednesday and again yesterday between 0.8339 at 0.8345. At the high, the price has stalled against its falling 100 hour moving average at 0.83741. There is also a swing area between 0.8366 and 0.8372.

So buyers and sellers are battling against technical levels today.

If the price can move above the 100 hour moving average that is a small victory for the buyers, but they would need to keep the momentum going to the upside. Getting below the 0.8400 – 0.84026 would be a another step in the bullish direction followed by a move above the 200 hour moving average at 0.84119. Above that and the 38.2% retracement of the move down from the July 21 high comes in at 0.84325.

On the downside, break below the 0.8339 – 0.8345 area, and it opens the door for further selling pressure.

/Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term