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: Short Position Making Progress

EUR/GBP Technical Analysis: Short Position Making Progress

Ilya Spivak, Head Strategist, APAC

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 remains under pressure against the British Pound, with prices on pace to complete the longest losing streak in three months. A daily close below the 50% Fibonacci expansion at 0.7802 exposes the 61.8% level at 0.7740. Alternatively, a turn above the 38.2% Fib at 0.7864 opens the door for a test of triangle floor support-turned-resistance at 0.7902.

We sold EURGBP at 0.7850, initially targeting 0.7802. A stop-loss will be activated on a daily close above 0.7898. We will take profit on half of the position and move the stop-loss to breakeven once the first objective is reached.

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

EUR/GBP Technical Analysis: Short Position Making Progress

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.