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.

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
EUR/USD
Mixed
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.99% Gold: 0.14% Oil - US Crude: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WLLkyZNDig
  • #DAX: A breakout above 12913 could soon have the gap-down in focus from February that kicked off the massive Q1 sell-off. Get your DAX market update from @PaulRobinsonFX here: https://t.co/Cw29vVEcxI https://t.co/Z3fN7K5kpX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.02%, while traders in US 500 are at opposite extremes with 74.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n5Xuy8XTuC
  • #Fed Beige Book: - Employment increased on net in nearly all districts - Payrolls remain well below pre-pandemic level in almost all districts $DXY
  • #Fed Beige Book: - Economic activity increased in nearly all districts, but down from pre-pandemic levels - Retail sales led by rebound in auto sales - Most districts report uptick in manufacturing activity - Construction remains subdued $DXY
  • RT @MarketsTicker: Fed's Beige Book says activity increased in almost all districts but remains well below pre-pandemic levels
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.69% Wall Street: 0.64% Germany 30: -0.22% FTSE 100: -0.22% France 40: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uVAPLeD1hH
  • New York #Fed Executive VP Logan says drop in balance sheet a signal of financial market health - BBG
  • The plunge in gold volatility has not seen an ensuing drop in gold prices – more evidence that our longstanding axiom on the gold volatility-gold price relationship holds true. Get your $XAUUSD market update from @CVecchioFX here: https://t.co/GeXl10ibPv https://t.co/xH8yBn8qAG
  • Heads Up:🇺🇸 Fed Beige Book due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-15
EURGBP Continues to Trade in Range

EURGBP Continues to Trade in Range

2015-09-11 13:56:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The EURGBP trades under R3 Resistance
  • Today’s range measures 42 pips
  • S4 breakouts begin below .7255

EURGBP 30Minute Chart

EURGBP Continues to Trade in Range

(Created using Trading View Charts)

Looking for more FX Reversals? Sign up for my email list here: SIGN UP HERE

The EURGBP has continued to consolidate today, and continues to trade inside of a defined 42 pip pivot range. Today’s range begins at the S3 Camarilla pivot found at a price of .7277, and ends at the R3 pivot found at .7319. So far prices have tested resistance once in London session trading, but have quickly moved back lower towards today’s central pivot at .7299. If the EURGPB continues to trade underneath resistance, it opens up the option of prices attempting a reversal back towards values of support.

While today’s economic calendar is light on data, a breakout is always a possibility as we close out the trading week. A move beyond the R4 pivot, found at .7341, would be considered significant. This scenario would represent the first bullish breakout in the last eight trading sessions. Conversely, a breakout below todays S4 pivot at .7255, would suggest that there may be more continued weakness for the pair. In either breakout scenario, traders should conclude any range based positioning and look to position new orders with the markets chosen direction.

EURGBP Continues to Trade in Range

Camarilla pivotscan be a great tool to aid in your day trading. Get started by increasing your trading education with DailyFX! Start learning about markets and trading intraday price reversals HERE.

Once you are ready to get started, register for a FREE Forex demo with FXCM. This way you can practiceyour day trading techniques while watching Forex pairs in real time.

Previous Market Setups

AUDUSD Retraces to Resistance

EURUSD Attempts Second Breakout

EURUSD Fails to Breakout on NFP

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, pleaseSIGN UP HERE

To contact Walker, email instructor@dailyfx.com.

Contact and Follow Walker on Twitter @WEnglandFX.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

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

DISCLOSURES

News & Analysis at your fingertips.