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.

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
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/453MLny2lu
  • The haven-linked US Dollar may be in a position to benefit in the short-run as economic recovery bets support longer-dated Treasury yields, making them more competitive with stocks. Get your market update from @ddubrovskyFX here: https://t.co/BickxlcuZi https://t.co/OdARp4Z1mh
  • The Dow Jones and Nasdaq 100 look to be on diverging technical paths as volatility spikes. Meanwhile, the S&P 500 teeters on support as it splits the difference between its sister indices. Get your market update from @PeterHanksFX here: https://t.co/0gULgIN2kw https://t.co/dzuxyjkXmx
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/yTYG7ote3R
  • The reflation trade is helping to push the oil-linked Canadian Dollar higher as the post-Covid economic outlook clears. The Loonie is reliant on the global economy’s recovery. Get your market update from @FxWestwater here: https://t.co/CYUiH0PCca https://t.co/my6clW7pxY
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/q8Ds7wYrKA
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/qtAmyhFU9A
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/S74APOiQ3y
  • Two of the main Euro-pairs, $EURUSD and $EURGBP, are being driven by very different drivers. Get your market update from @nickcawley1 here: https://t.co/Vd32Y6HKEr https://t.co/Lgb5z5V1Xa
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/9uPXNvDBS5
EURGBP Outlook: Move Lower Stalls for Now Despite Brexit News

EURGBP Outlook: Move Lower Stalls for Now Despite Brexit News

Nick Cawley, Strategist

Euro, GBP and Brexit Talking Points:

  • Positive Brexit sentiment weighing on EURGBP
  • 200-day ma support and no trend breakout.

The DailyFX Q4 EUR and GBP Forecasts are available to download.

EURGBP Slipping on Mildly Positive Brexit News

Reports earlier today that the UK and the EU are closer to agreeing a draft agreement sent EURGBP lower and back to levels seen one-week ago. UK PM Theresa May said that a deal is ‘within our grasp’ and that the deal is ‘the right deal for the UK’. One small step forward but the response to the PM’s announcement remains negative and it still seems very unlikely that the bill will pass through the House of Commons, leaving PM May’s handling of the negotiations, and her position, under renewed criticism. As we move towards the end of the week, talks are ongoing ahead of this Sunday’s meeting of EU leaders in Brussels.

Brexit Latest: GBP Rises as EU-UK Agree Future Ties, However Hurdles Remain.

Today’s break lower is currently being held up by support from the 200-day moving average, currently at 0.8837, with further support from a cluster of the 20-day, 50-day averages and 61.8% Fibonacci retracement level between 0.87959 and 0.88196.

DailyFX analyst Daniel Dubrovsky latest take on EURGBP – Upside Breakout Struggling, May Fail

EURGBP Daily Price Chart (April – November 22, 2018)

EURGBP Outlook: Move Lower Stalls for Now Despite Brexit News

IG Client Sentiment Datashow that retail investors are 31.3% net-long EURGBP, a bullish contrarian trading bias. And coupled with recent daily and weekly positional changes, this gives us a stronger bullish contrarian bias.

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on EURGBP – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES