News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Forex:_EURGBP_Reversal_Underway

Forex:_EURGBP_Reversal_Underway

David Song, Strategist

Although the relative strength index on the EURGBP broke out of the upward trend from the earlier this month, the pair has held within the previous range, and the lack of following through in price action will keep us on the sidelines as the pair continues to carve out a lower top around the 0.8100 figure. In turn, we would like to see a close below the 200-Day SMA (0.8066) to set a potential short entry around the 0.8050 figure, and we will continue to eye the 100-Day SMA (0.7969) as the head-and-shoulders reversal pattern takes shape.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES