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: Range Floor Under Pressure

EUR/GBP Technical Analysis: Range Floor Under Pressure

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: 0.7898, 0.7864, 0.7802
  • Resistance: 0.7941, 0.8033, 0.8074

The Euro is testing pivotal support at the bottom of a falling channel encasing price action against the British Pound since late July. A daily close below the channel floor at 0.7898 exposesthe 38.2% Fibonacci expansion at 0.7864. Alternatively, a turn above the 23.6% level at 0.7941 opens the door for a test of 0.8033, a level marked by the channel and the June 25 high.

Risk/reward considerations argue against entering short with prices sitting at support. On the other hand, the absence of a defined bullish reversal signal suggests taking up the long side is premature. We will remain flat for now.

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

EUR/GBP Technical Analysis: Range Floor Under Pressure

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.