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.

Free Trading Guides
EUR/USD
Mixed
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.17% 🇦🇺AUD: 0.14% 🇬🇧GBP: 0.13% 🇨🇭CHF: -0.03% 🇪🇺EUR: -0.06% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/WHghrcxnkR
  • RT @FirstSquawk: MORE THAN 90 COUNTRIES REQUEST IMF BAILOUT
  • Heads Up:🇰🇷 Consumer Confidence due at 21:00 GMT (15min) Previous: 70.8 https://www.dailyfx.com/economic-calendar#2020-05-25
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.50% Gold: -0.32% Silver: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kxAE18eIBf
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.43%, while traders in US 500 are at opposite extremes with 77.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lmh68Zio6T
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.31% Germany 30: 0.24% FTSE 100: 0.09% US 500: 0.00% Wall Street: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/yYNbl2JFoG
  • The anti-risk US Dollar and Japanese Yen edged higher at the expense of the growth-anchored Australian and New Zealand Dollars as US equity futures pointed lower at the start of Asia trade. Get your $GBPUSD market update from @ZabelinDimitri here: https://t.co/eUY9y46j98 https://t.co/Aj3mxhsnDy
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.50% Gold: -0.32% Silver: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Rrzzjyfqmz
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.44%, while traders in US 500 are at opposite extremes with 77.37%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jjChVG5cqm
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 1.28% Wall Street: 1.15% France 40: 0.15% Germany 30: 0.08% FTSE 100: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vL9MgyBJF5
EUR/GBP Technical Analysis – Long-Term Trend Line Retested

EUR/GBP Technical Analysis – Long-Term Trend Line Retested

2014-04-09 23:59:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.8255-64 (trend line from Feb’14, 23.6% Fib exp.), 0.8300
  • Resistance: 0.8219 (trend line from Aug’13), 0.8165 (38.2% Fib exp.)

The Euro fell against the British Poundas expected, with prices clearing trend line support set from mid-February to retest former support dating back to August 2013. This level is now at 0.8219, with a break below that initially exposing the 38.2% Fibonacci expansion at 0.8165. Resistance lines up in the 0.8255-64 area – marked by the February trend line and the 23.6% level – with a break above that targeting the 0.83 figure at first.

Prices are wedged too tightly between near-term support and resistance to justify taking a position on either side of the market from a risk/reward perspective. We will continue to stand aside, looking for a more actionable setup to present itself.

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

dailyclassics_eur-chf_body_Picture_11.png, EUR/GBP Technical Analysis – Long-Term Trend Line Retested

Daily Chart - Created Using FXCM Marketscope 2.0

--- 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

News & Analysis at your fingertips.