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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
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
More View more
Real Time News
  • If you're in the UK or Western Europe this will be an hour earlier than previously because of the clocks going back... https://t.co/mhvbYLCAkA
  • PBoC to remove counter-cyclical factor in Yuan fixing
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: 0.14% Wall Street: 0.01% FTSE 100: -0.20% Germany 30: -0.78% France 40: -1.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Q6UKBovHvF
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/3PZaK76ujX
  • Heads Up:🇿🇦 Unemployment Rate (Q3) due at 09:30 GMT (15min) Previous: 23.3% https://www.dailyfx.com/economic-calendar#2020-10-27
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/AoM3UvLtcF https://t.co/iSGErOq12D
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/oIGwwUxkA1
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/UYZKfhgVKI
  • 🇪🇸 Unemployment Rate (Q3) Actual: 16.26% Expected: 15.9% Previous: 15.33% https://www.dailyfx.com/economic-calendar#2020-10-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.88%, while traders in NZD/USD are at opposite extremes with 72.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AkpsGpdS41
EUR/GBP Technical Analysis: Euro Falls for 6th StraightDay

EUR/GBP Technical Analysis: Euro Falls for 6th StraightDay

2014-09-23 22:50:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/GBP Technical Strategy: Short at 0.7850
  • Support: 0.7802, 0.7740, 0.7663
  • Resistance: 0.7864, 0.7902, 0.7941

The Euro continues to edge downward against the British Pound, with prices falling for a sixth consecutive day. Near-term support is at 0.7802, the 50% Fibonacci expansion, with a break below that on a daily closing basis exposing the 61.8% level at 0.7740. Alternatively, a reversal above the 38.2% Fib at 0.7864 clears the way for a challenge of triangle floor support-turned-resistance at 0.7902.

We entered short EURGBP at 0.7850, initially targeting 0.7802. A stop-loss has been set to trigger on a daily close above 0.7898. We will book on half of the trade and move the stop-loss to breakeven once the first target is met.

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

EUR/GBP Technical Analysis: Euro Falls for 6th StraightDay

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