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: Ready to Turn Lower Anew?

EUR/GBP Technical Analysis: Ready to Turn Lower Anew?

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: 0.7953, 0.7873, 0.7777
  • Resistance: 0.8057, 0.8148, 0.8267

The Euro may be topping against the British Pound after prices produced a bearish Dark Cloud Cover candlestick pattern. Near-term support is at 0.7953, the 14.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 0.7873-96 area marked by the July 23 low and the 23.6% level. Alternatively, a push above the 0.8033-57 zone (June 25 high, channel top) opens the door for a challenge of a longer-term 38.2% Fib retracement at 0.8148.

Prices are too close to support to justify entering short from a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal suggests that taking up the short side is premature. With that in mind we will remain flat for now.

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

EUR/GBP Technical Analysis: Ready to Turn Lower Anew?

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.