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.



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
Oil - US Crude
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
More View more
Real Time News
  • Is the Eurozone entering into a second debt crisis? Find out here:
  • 🇯🇵 PPI YoY (MAR) Actual: 1% Expected: 0.5% Previous: -0.6%
  • 🇯🇵 PPI MoM (MAR) Actual: 0.8% Expected: 0.4% Previous: 0.6%
  • 🇯🇵 PPI MoM (MAR) Actual: 0.8% Expected: 0.4% Previous: 0.4%
  • 🇯🇵 PPI YoY (MAR) Actual: 1% Expected: 0.5% Previous: -0.7%
  • 🇯🇵 Bank Lending YoY (MAR) Actual: 6.3% Previous: 6.2%
  • $EURUSD has been climbing gently in the past few days after its recent steep falls. However, that was probably just position-squaring ahead of further weakness. Get your market update from @MartinSEssex here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • 6 out of 9 Dow Jones sectors ended higher, with 73.3% of the index’s constituents closing in the green. Healthcare (+1.48%), information technology (+1.47%) and consumer discretionary (+1.15%) were among the best performers, while consumer staples (-0.36%) lagged behind.
  • Build your EUR/USD strategy with key trading techniques. Get your free insight here.
EUR/GBP Forecast - Rebound May Prove Fleeting if Resistance Stands Firm

EUR/GBP Forecast - Rebound May Prove Fleeting if Resistance Stands Firm

Nick Cawley, Strategist

UK and Euro-Zone PMIs and EUR/GBP Price Analyis and Chart

  • New UK PMI data highlights the weakness in the economy.
  • EUR/GBP rally may be short-lived.

Brand New Q4 2019 GBP and EUR Forecast and Top Trading Opportunities

A tale of two weak currencies continues with recent data releases showing both their economies struggling. The recent PMI releases show the UK’s struggle with Brexit uncertainty continuing to hit home – with all three new flash UK PMIs below 50 – while Eurozone manufacturing picked up from lowly levels, but services fell more than expected.

EUR/GBP Forecast - Rebound May Prove Fleeting if Resistance Stands Firm

EUR/GBP Price Analysis and Chart

The net outcome from today’s releases has seen EURGBP push marginally higher after its multi-month decline but the move does not look convincing yet. The pair are currently trading around the 20-day moving average, an indicator that has capped upside movement for the last six weeks, while the 50- and 200-dmas are currently at 0.86935 and 0.88410, substantially higher than the current spot price. The CCI indicator has moved out of oversold territory and is just off a six-week high.

Any pull-back in EUR/GBP will initially target Monday’s multi-month low at 0.85220 ahead of May’s low at 0.84907 and the late-March low print at 0.84725. Below here, the April 2018 low at 0.83133 beckons.

EUR/GBP Daily Price Chart (January - November 22, 2019)

EUR/GBP Forecast - Rebound May Prove Fleeting if Resistance Stands Firm

IG Client Sentiment shows that traders are 65% net-long EUR/GBP, giving us a bearish 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 the Euro and Sterling – 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.