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
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
Oil - US Crude
Wall Street
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
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:
  • What is seasonal change in volatility. Are we going through one right now? Find out:
  • The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data. Get your #currencies update from @ZabelinDimitri here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out:
  • Weakness in equity markets continued last week as losses built and technical patterns hint further bearishness might be ahead. Get your #equities update from @PeterHanksFX here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • #Gold prices succumbed to selling pressure as the US Dollar soared this past week What is #XAUUSD facing these next few days and can these fundamental forces extend its selloff? Check out my outlook here -
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
EUR/GBP Price Forecast: EURGBP Tests Key 0.9000 Psychological Level

EUR/GBP Price Forecast: EURGBP Tests Key 0.9000 Psychological Level

2020-07-21 19:00:00
Richard Snow, Markets Writer

EUR/GBP Analysis:

  • EUR/GBP failed to test the June high and has bounced off the psychological 0.9000 level
  • The pair suffered losses following the conclusion of the EU recovery fund deal and surging UK public borrowing figures
  • Sentiment data shows that roughly 58% of traders are net-short, with an influx of long traders entering the market over the last 24 hours

EUR/GBP Moves Lower After Failed Retest of June Highs

After the July 13 bullish advance, the pair had shown signs of buyer exhaustion via multiple long upper wicks in the candle formation leading up to the June high of 0.9176. Long upper wicks tend to suggest that there is a rejection of higher prices at those levels taking place. This observation is further supported when there are multiple candles exhibiting long upper wicks, as there were from 14 – 20 July.

The move lower comes after a deal was agreed upon by EU leaders regarding the recovery fund and despite worse than expected UK public-sector borrowing figures.

EUR/GBP Daily Price Chart

EURGBP daily chart

Chart prepared by Richard Snow, IG

EUR/GBP Strategy Moving Forward

The daily chart below highlights the significant area of support for EUR/GBP (orange rectangle). This area represents an area of confluence as the psychological 0.9000 level almost overlaps with the 38.2% fib level to form a support zone. A close below the 0.9000 and 0.8988 levels could see price action move towards the recent swing low at 0.8940.

A late resurgence, after the close of the London trading session had seen bulls push price action up off the 0.9000 level. Bullish traders that may view this as the start of another upswing will be eying the 0.9139 level and should bullish momentum persist from there, possibly even a retest of the June high of 0.9176.

Starts in:
Live now:
Sep 27
( 22:09 GMT )
Get greater insight into price action in this webinar
Key News Trading Events for the Week Ahead
Register for webinar
Join now
Webinar has ended

EUR/GBP Daily Chart Showing Key Trading Levels

EURGBP daily chart showing key trading levels

Chart prepared by Richard Snow, IG

EUR/GBP Sentiment: IG Trader Positioning

  • At the time of writing, retail trader data shows 58% of EUR/GBP traders are net-short with the ratio of traders short to long at 1.38 to 1.
  • The number of traders net-long is 24.79% higher than yesterday and 10.33% higher from last week, while the number of traders net-short is 10.09% lower than yesterday and 3.95% higher from last week.
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -1% -6% -5%
Weekly -6% 13% 5%
Find out where most EUR/GBP traders are positioned
Get My Guide
  • When operating with a contrarian view with respect to crowd sentiment, considering that traders are net-short would suggests EUR/GBP prices may continue to rise.
  • Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current EUR/GBP price trend may soon reverse lower despite the fact traders remain net-short.

--- Written by Richard Snow for

Contact and follow Richard on Twitter: @RichardSnowFX

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