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
Forex: EUR/GBP Technical Analysis – Support Sub-0.82 in Focus

Forex: EUR/GBP Technical Analysis – Support Sub-0.82 in Focus

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.8167 (38.2% Fib exp.), 0.8131 (50% Fib exp.)
  • Resistance:0.8212 (23.6% Fib exp.), 0.8270-96 (trend line cluster)

The Euro moved lower against the British Pound after showing a bearish Dark Cloud Cover candlestick pattern below resistance in a falling trend line cluster (now in the 0.8270-96 area). Prices are hovering near the 23.6% Fibonacci expansion at 0.8212, with a move lower from here targeting the 38.2%level at 0.8167. A break below this boundary exposes the 50% Fib at 0.8131. Alternatively, a reversal higher aims for 0.8274 anew.

As we noted earlier, a reasonable invalidation point to establish a stop-loss on a short trade is the February 24 high at 0.8286. Reconciling this and a target of 0.8167 with at least a 1:1 risk/reward ratio requires an entry price at 0.8227 or higher. That level is above near-term resistance, meaning a move there could be part of a reversal that invalidates bearish cues altogether. As such, we remain flat.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_eur-chf_body_Picture_11.png, Forex: EUR/GBP Technical Analysis – Support Sub-0.82 in Focus

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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