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
More View More
British Pound Technical Analysis - GBP/USD, EUR/GBP, GBP/CHF

British Pound Technical Analysis - GBP/USD, EUR/GBP, GBP/CHF

Daniel McCarthy, Strategist

British Pound, GBP/AUD, EUR/GBP, GBP/CHF - Talking Points

  • GBP/USD appears to be stalling after rallying from recent lows
  • EUR/GBP and GBP/CHF have held ranges as highs and lows tested
  • Is bearish momentum enough for EUR/GBP to break lower?
How to Trade GBP/USD
How to Trade GBP/USD
Recommended by Daniel McCarthy
How to Trade GBP/USD
Get My Guide


Starting off with GBP/USD, the late September low of 1.3412 was outside of the 2 standard deviation lower Bollinger Band, based on the 21-day simple moving average (SMA). Since it moved back inside the lower band, it has had a bullish move to a high of 1.3674. While this high was above the 21-day SMA, it has not had a close above the 21-day SMA and it may offer resistance.

Previous highs of 1.3751, 1.3913 and 1.3982 may also offer resistance. Additionally, the current level of the 200-day SMA at 1.3842 and a descending trend line at 1.3820 are potential resistance.

A Shooting Star candlestick formation on Friday has yet to manifest as a bearish reversal signal.

The low of 1.1410 was in March last year and GBP/USD then rallied to 1.4251 in June this year. Below the market, the 61.8% Fibonacci retracement is at 1.3166, a level of potential support. The recent low of 1.3412 is also a possible level of support.


Chart created in TradingView


The EUR/GBP has been caught in range of 0.84503 – 0.86716 since May.

Normally, when the 10-day SMA crosses below both the 55-day and 100-day SMAs, this might suggest bearish momentum. However, looking at the chart and the range bound nature of this currency pair, it’s possible that previous highs and lows might have more impact.

Support could be provided at the previous lows 0.84274 and 0.84503. On the topside, there is potential resistance at the previous high of .85270 and then higher up at 0.86583, 0.86697 and 0.86716.


Chart created in TradingView

Introduction to Technical Analysis

Moving Averages

Recommended by Daniel McCarthy

Start Course


GBP/CHF has also been caught in a range since May. The outer bounds of 1.24731 and 1.28567 are possible support and resistance level respectively.

The current range bound nature of GBP/CHF is highlighted by the price being very close to the middle of the 21-day SMA based Bolling Bands.

Resistance might be offered at the prvious highs of 1.26777, 1.27315 and 1.28195. On the downside, support could be provided at the previous low of 1.24731.


Chart created in TradingView

--- Written by Daniel McCarthy, Strategist for

To contact Daniel, use the comments section below or @DanMcCathyFX on Twitter

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