# EURGBP Bullish Flag Pattern (Aug 05, 2016) Source: https://www.tradersway.com/resources/market-info/eurgbp-bullish-flag-pattern-aug-05-2016/ Language: en Updated: 2016-08-05 Description: Explore EURGBP Bullish Flag Pattern (Aug 05, 2016). EURGBP is. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURGBP is trending higher on its 1-hour time frame, moving inside an ascending channel and signaling a possible upside break. Price has formed a bullish flag on the channel resistance at the .8475 area, with an upside breakout likely to start a sharper climb. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside and the rally could carry on. However, stochastic is on the move down so price could still follow suit and make a test of the channel support at .8375 before resuming its climb. A smaller pullback could last until the mid-channel area of interest, which lines up with the dynamic inflection points around the moving averages. Price could draw support from the .8400-.8450 psychological levels, at which several buyers could be waiting with their long orders. The BOE cut interest rates by 0.25% in their latest policy statement as expected, but the central bank surprised with an increase in their bond purchase program from 375 billion GBP to 435 billion GBP. This additional stimulus could weigh on the pound in the near term due to the large increase in money supply. Meanwhile, data from the euro zone has been mostly in line with expectations, suggesting that the ECB probably won’t add to their easing efforts anytime soon. German factory orders and French trade balance are up for release today and strong results could spur an upside breakout from the flag formation. ![EURGBP Bullish Flag Pattern (Aug 05, 2016)] On the other hand, downbeat data from the region could revive talks of additional ECB easing, possibly taking EURGBP to the middle of the channel or towards support. Only the Halifax HPI is due from the UK today. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurgbp-bullish-flag-pattern-aug-05-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/eurgbp-bullish-flag-pattern-aug-05-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurgbp-bullish-flag-pattern-aug-05-2016/", "headline": "EURGBP Bullish Flag Pattern (Aug 05, 2016)", "inLanguage": "en", "datePublished": "2016-08-05T07:43:21+00:00", "dateModified": "2016-08-05T07:43:21+00:00", "articleSection": "Market Info", "description": "Explore EURGBP Bullish Flag Pattern (Aug 05, 2016). EURGBP is. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurgbp-bullish-flag-pattern-aug-05-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURGBP Bullish Flag Pattern (Aug 05, 2016)", "item": "https://www.tradersway.com/resources/market-info/eurgbp-bullish-flag-pattern-aug-05-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```