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
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
Oil - US Crude
More View more
Breaking news

ECB leaves all rates unchanged in line with expectations

Real Time News
  • #QE-infinity from the @ecb to continue under Lagarde $EUR https://t.co/bshVyrcsPZ
  • RT @LiveSquawk: WATCH: ECB President Christine Lagarde Speaks At Press Conference https://t.co/hvkfk6vMlC
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.19% 🇨🇭CHF: 0.11% 🇪🇺EUR: 0.07% 🇨🇦CAD: -0.03% 🇯🇵JPY: -0.04% 🇬🇧GBP: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BU6E4RwV3V
  • Heads Up:🇺🇸 USD Continuing Claims (NOV 30) due at 13:30 GMT (15min), Actual: N/A Expected: 1678k Previous: 1693k https://www.dailyfx.com/economic-calendar#2019-12-12
  • Heads Up:🇪🇺 EUR ECB's Lagarde Speaks in Frankfurt After Policy Decision due at 13:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-12-12
  • Heads Up:🇨🇦 CAD New Housing Price Index (YoY) (OCT) due at 13:30 GMT (15min), Actual: N/A Expected: 0.0% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2019-12-12
  • RT @TheSquareMile: #ECB statement: most interesting for what it leaves out rather than what's in it. No mention of strategy review mooted u…
  • Tune in to @PeterHanksFX 's #webinar at 9:00 AM ET/2:00 PM GMT to learn how to identify trends with trader #sentiment. Register here: https://t.co/MqVMi2INbJ https://t.co/clw4rF8l2B
  • 🇪🇺 EUR ECB Marginal Lending Facility (DEC 12), Actual: 0.25% Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2019-12-12
  • 🇪🇺 EUR European Central Bank Rate Decision (DEC 12), Actual: 0.00% Expected: 0.00% Previous: 0.00% https://www.dailyfx.com/economic-calendar#2019-12-12
EUR/GBP Technical Analysis – Seesawing Around 0.80 Level

EUR/GBP Technical Analysis – Seesawing Around 0.80 Level

2014-07-02 00:43:00
Ilya Spivak, Sr. Currency Strategist

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

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.7955, 0.7908, 0.7833
  • Resistance:0.8023, 0.8081, 0.8127

The Euro is struggling to build higher against the British Pound after putting in a bullish Piercing Line candlestick pattern. Initial resistance comes in at 0.8023, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 0.8062. Alternatively, a drop through the 0.7955-58 area marked by the June 16 low and the 61.8% Fib expansion targets the 76.4% level at 0.7908.

The ECB seems to be the most dovish of the major central banks, putting the Euro at structural disadvantage against its G10 FX counterparts. With that in mind, we will opt not to pursue a long position and wait for a bounce to produce a selling opportunity.

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

EUR/GBP Technical Analysis – Seesawing Around 0.80 Level

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.


News & Analysis at your fingertips.