{"id":27325,"date":"2022-05-06T07:25:00","date_gmt":"2022-05-06T06:25:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=27325"},"modified":"2022-05-06T14:52:20","modified_gmt":"2022-05-06T13:52:20","slug":"eurgbp-technical-analysis-bullish-breakout-looms","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-bullish-breakout-looms\/","title":{"rendered":"EURGBP Technical Analysis &#8211; Bullish breakout looms"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"27325\" class=\"elementor elementor-27325\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-397fef4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"397fef4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cb6270b\" data-id=\"cb6270b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e04eaa2 elementor-widget elementor-widget-text-editor\" data-id=\"e04eaa2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\" rel=\"noopener\">EURGBP<\/a> pair has started to move back towards the 0.8500 after breaking above its 200-day moving average once again after the extremely dovish policy statement from the Bank of England on Thursday.<\/p><p>The Bank of England believes came out swinging on Thursday, as talked down the chances of a big economic downturn, driven primarily, by soaring energy prices, which is set to intensify and will push the UK economy into recession later this year according to the central bank.<\/p><p>The Bank now think that inflation is heading for double-digits, peaking above 10% in the autumn, at a time when the UK economy is being hit by a series of shocks. The upheaval is being caused by a succession of lockdowns to contain Covid-19 and has been followed by Russia\u2019s invasion of Ukraine.<\/p><p>Bank of England governor Andrew Bailey said on how the rising cost of living is hitting the poor the hardest \u201cThis inflation is particularly concentrated in what you might called staple goods&#8221;<\/p><p>The current move higher in the EURGBP is being driven by a clear combination of British pound weakness and rebound in <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> pair from the 1.0400 level since last week.<\/p><p>Most traders would agree that the EURGBP pair is now showing signs of doing much higher after moving above its 200-day moving average, and that the EURGBP pair may have bottomed.<\/p><p>The ActivTrader platform shows that bearish sentiment is still at moderately high levels, with some 63 percent of traders still expecting more upside in the EURGBP pair.<\/p><p>This current high level of bearishness is however warning that the EURGBP pair might be getting ready to explode to the upside. A move above 0.8600 could be turbo charge the next upside move.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c9a819e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c9a819e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3229c50\" data-id=\"3229c50\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a826a4a elementor-widget elementor-widget-image\" data-id=\"a826a4a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"435\" height=\"167\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/EURGBP-CHART.jpg\" class=\"attachment-large size-large wp-image-27328\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9cb6cb3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9cb6cb3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dc04331\" data-id=\"dc04331\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-59c7163 elementor-widget elementor-widget-text-editor\" data-id=\"59c7163\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>EURGBP Short-term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that the EURGBP pair is technically bullish now over the short-term with the price trading well above its 200-period MA, around the 0.8350 level. A bullish inverted head and shoulders pattern has been activated also.<\/p><p>Lower time frame analysis currently shows the EURGBP pair could rally towards the 0.8600 level, according to the size of the inverted head and shoulders pattern. These patterns are typically very bullish.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b1644dc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b1644dc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6e95927\" data-id=\"6e95927\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f0ae205 elementor-widget elementor-widget-image\" data-id=\"f0ae205\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"551\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/EURGBP-4H.jpg\" class=\"attachment-large size-large wp-image-27330\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-202f8bed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"202f8bed\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6578fba4\" data-id=\"6578fba4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-17534c6b elementor-widget elementor-widget-text-editor\" data-id=\"17534c6b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ca54e7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ca54e7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-916c7c2\" data-id=\"916c7c2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e42ff01 elementor-widget elementor-widget-text-editor\" data-id=\"e42ff01\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>EURGBP Medium-term Technical Analysis<\/strong><\/p><p>The daily time frame shows that the EURGBP pair is trading inside a large descending broadening wedge pattern, with the pair now above its 200-day MA and trading towards the top of the wedge.<\/p><p>The top of the bullish falling broadening wedge pattern is close to be tested to the upside. Traders should note that bullish falling broadening wedge patterns are amongst the most bullish reversal patterns and have a high probability of playing out. The pattern is predicting a coming test towards the 0.8600 area.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-25797b2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"25797b2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-add8c54\" data-id=\"add8c54\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1938cf elementor-widget elementor-widget-image\" data-id=\"f1938cf\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"551\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/EURGBP-1D.jpg\" class=\"attachment-large size-large wp-image-27331\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4561e1ee elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4561e1ee\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1ff574a4\" data-id=\"1ff574a4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6f35205e elementor-widget elementor-widget-text-editor\" data-id=\"6f35205e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The EURGBP pair has started to move back towards the 0.8500 after breaking above its 200-day moving average once again after the extremely dovish policy statement from the Bank of England on Thursday. The Bank of England believes came out swinging on Thursday, as talked down the chances of a big economic downturn, driven primarily, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":27326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[56,24,200],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EURGBP Technical Analysis - Bullish breakout looms - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-bullish-breakout-looms\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EURGBP Technical Analysis - Bullish breakout looms EURGBP Technical Analysis - Bullish breakout looms\" \/>\n<meta property=\"og:description\" content=\"The EURGBP pair has started to move back towards the 0.8500 after breaking above its 200-day moving average once again after the extremely dovish policy statement from the Bank of England on Thursday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-bullish-breakout-looms\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-06T06:25:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-06T13:52:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/rsz_gettyimages-666290644.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"406\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"EURGBP Technical Analysis - Bullish breakout looms EURGBP Technical Analysis - Bullish breakout looms\" \/>\n<meta name=\"twitter:description\" content=\"The EURGBP pair has started to move back towards the 0.8500 after breaking above its 200-day moving average once again after the extremely dovish policy statement from the Bank of England on Thursday.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-bullish-breakout-looms\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-bullish-breakout-looms\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"EURGBP Technical Analysis &#8211; 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