Skip to Content
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
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
EURGBP Outlook: Move Lower Stalls for Now Despite Brexit News

EURGBP Outlook: Move Lower Stalls for Now Despite Brexit News

Nick Cawley, Senior 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 Forecast s 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)

IG Client Sentiment Data show 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 or via Twitter @nickcawley1.

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