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.

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
Bearish
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • $GBPUSD back at 1.4000 https://t.co/sLPxGkWs7z
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.62% Oil - US Crude: 1.30% Gold: 0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xs21aRt2wV
  • #Gold Price Outlook: Gold Plunges into Critical Support- $XAUUSD Levels - https://t.co/1j4Xqz2FG8 https://t.co/WZkDyweKeT
  • 🇺🇸 New Home Sales MoM (MAY) Actual: -5.9% Previous: -7.8% https://www.dailyfx.com/economic-calendar#2021-06-23
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.11%, while traders in GBP/JPY are at opposite extremes with 72.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7oa3cr0Yg8
  • Global growth trends through June according to the Markit's PMIs show a widening gap in favor of the West. US and European composite PMIs continue to climb while other regions ease. Wonder what this does to the Fed speculation calculation https://t.co/gBAMf5WClH
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.81% Silver: 1.56% Gold: 0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/PSucSZ0uEL
  • 🇺🇸 Markit Manufacturing PMI Flash (JUN) Actual: 62.6 Expected: 61.5 Previous: 62.1 https://www.dailyfx.com/economic-calendar#2021-06-23
  • Heads Up:🇺🇸 New Home Sales MoM (MAY) due at 14:00 GMT (15min) Previous: -5.9% https://www.dailyfx.com/economic-calendar#2021-06-23
  • here we go, it's webinar time topics on the docket: 1) USD - trade or fade? 2) Setups on FX majors based on answer to 1 above 3) Oil/Gold/Stonks - lots going on rn staring now https://t.co/dXeTMJRLJz
EUR/GBP Technical Analysis: Holding Onto Short for Now

EUR/GBP Technical Analysis: Holding Onto Short for Now

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/GBP Technical Strategy: Short at 0.7311
  • Support: 0.7116, 0.7005, 0.6887
  • Resistance: 0.7222, 0.7384, 0.7444

The Euro may be preparing to bounce against the British Pound after prices put in a bullish Piercing Line candlestick pattern. A daily close above support-turned-resistance at 0.7222, the March 31 low, exposes the March 25 high at 0.7384. Alternatively, a reversal below the April 23 bottom at 0.7116 opens the door for a test of the 38.2% Fibonacci expansion at 0.7005.

We entered short EURGBP at 0.7311 and have since booked profit on half of the trade. Confirmation of reversal is absent for now and we will keep the rest of the position in play for now with a stop-loss at the breakeven level (0.7311).

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

EUR/GBP Technical Analysis: Holding Onto Short for Now

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES