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
EUR/GBP Technical Analysis – Stalling at Trend Line Support

EUR/GBP Technical Analysis – Stalling at Trend Line Support

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: 0.8124 (falling trend line), 0.8096 (channel floor)
  • Resistance:0.8153 (channel top), 0.8190-0.8200 (23.6% Fib ret., range floor)

A brief Euro recovery has been overturned, with the British Pound securing its strongest close in 16 months against the single currency. Support lines up 0.8124, marked by a falling trend line set from late January, with a break below that exposing the bottom of a falling channel at 0.8096. Alternatively, a daily close above the channel top at 0.8153 clears the way for a challenge of the 0.8190-0.8200 area, marked by the 23.6% Fibonacci retracement and a recently broken range floor.

Indecisive positioning argues against taking a trade on either the long or the short side for the time being. We will remain on the sidelines, waiting for a more actionable opportunity to present itself.

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

EUR/GBP Technical Analysis – Stalling at Trend Line Support

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.