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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • WTI #CrudeOil prices extend gains during Tuesday's Asia-Pacific trading session, nearing the July high at 76.95 Prices are up almost 0.9% on the day so far
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Brent oil prices hit $80 per barrel for the first time since October 2018 #trading #OOTT
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • This week has started with the recovery rally in risk assets stalled and the Dollar looking down multiple barrels of fundamental threat in monetary policy and debt politics. $EURUSD is well positioned as indicator 1.1650-1.1750
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • AUD/NZD, Could This be the Turnaround? - #AUDNZD chart on @TradingView
  • Another pleasure being on @ausbiztv with host @AusAndrewG talking about US indices, rising bond yields and $USDJPY Check out the full interview here! -
  • 🇦🇺 Retail Sales MoM Prel (AUG) Actual: -1.7% Previous: -2.7%
  • 🇨🇳 Industrial Profits (YTD) YoY (AUG) Actual: 49.5% Previous: 57.3%
EURGBP Price Well Placed For Upside Break

EURGBP Price Well Placed For Upside Break

Martin Essex, MSTA, Analyst

EURGBP price, news and analysis:

  • The EURGBP price has been trending lower since late August but has now risen above the resistance line joining the lower highs and, if it can hold on to its gains, should make further progress.
  • That is despite a senior EU legal adviser saying the UK has the right to withdraw its Brexit divorce petition, making no-Brexit possible if a proposed EU-UK deal is rejected by the UK Parliament.

Positive technical signal for EURGBP price

The EURGBP price has risen above a downward channel in place since late August, making a move higher likely. So far, the break is looking tentative so it might be wise to wait for it to be confirmed before going long the pair but, if it is confirmed, the advance could be strong.

EURGBP Price Chart, Four-Hour Timeframe (August 16 – December 4, 2018)

Latest EURGBP price chart.

Chart by IG (You can click on it for a larger image)

As the four-hour chart above shows, the pair first broke above trendline resistance last Thursday, moved back below it and has now breached it again. That is clearly positive, especially as GBP is currently benefiting from a legal judgment that the UK can overturn its decision to exit the EU if it wishes to.

A confirmed break would bring 0.90 into view and, if that can be reached, the next target would be the high just under 0.91 touched on August 28. Meanwhile, the downside is protected by the 20-day moving average at 0.8859, the 50-dma at 0.8822, the 100-dma at 0.8881, the October 10 low at 0.8723 and the November 13 low at 0.8656.

Resources to help you trade the forex markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at or on Twitter @MartinSEssex

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