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
Bullish
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
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Heads Up:🇨🇭 Unemployment Rate (JUN) due at 05:45 GMT (15min) Expected: 3.4% Previous: 3.4% https://www.dailyfx.com/economic-calendar#2020-07-08
  • Correction: A lot has changed since I wrote about the RCEP in September 2019. The agreement with all the participants would account for 50 percent of global GDP and a third of the world's population - https://www.dailyfx.com/forex/market_alert/2019/09/17/Asia-FX-Markets-Eye-RCEP-Trade-Talks-as-Regional-Growth-Sputters.html https://t.co/1i5FK3ujw5
  • 🇯🇵 Eco Watchers Survey Outlook (JUN) Actual: 44 Previous: 36.5 https://www.dailyfx.com/economic-calendar#2020-07-08
  • 🇯🇵 Eco Watchers Survey Current (JUN) Actual: 38.8 Previous: 15.5 https://www.dailyfx.com/economic-calendar#2020-07-08
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/JgoS8voYzp
  • Heads Up:🇯🇵 Eco Watchers Survey Outlook (JUN) due at 05:00 GMT (15min) Previous: 36.5 https://www.dailyfx.com/economic-calendar#2020-07-08
  • Heads Up:🇯🇵 Eco Watchers Survey Current (JUN) due at 05:00 GMT (15min) Previous: 15.5 https://www.dailyfx.com/economic-calendar#2020-07-08
  • #DowJones may fall on positioning signals next Will #AUD and #CAD follow? $AUDUSD $USDCAD https://www.dailyfx.com/forex/technical/article/special_report/2020/07/08/Dow-Jones-Australian-Dollar-Canadian-Dollar-Outlook-Positioning-Bets.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/GvOowyBeeO
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.23%, while traders in NZD/USD are at opposite extremes with 73.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/uxDSQcAM1s
  • RT @DanielGMoss: A broad risk-off tone has been seen throughout #APAC trade as the re-imposition of lockdown restrictions in #Melbourne sou…
EUR/GBP Technical Analysis: Short Position Now in Play

EUR/GBP Technical Analysis: Short Position Now in Play

2014-12-19 03:02:00
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 0.7840
  • Support: 0.7803, 0.7765, 0.7728
  • Resistance: 0.7850, 0.7896, 0.7953

The Euro looks to be resuming its long-term decline against the British Pound after prices completed a Triangle chart formation. Near-term support is at 0.7803, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the September 30 low at 0.7765. Alternatively, a reversal above Triangle floor support-turned-resistance at 0.7850 opens the door for a challenge of the 23.6% level at 0.7896.

We will now enter short, initially targeting 0.7803. A stop-loss will be activated on a daily close above 0.7877. 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 Now in Play

Daily Chart - Created Using FXCM Marketscope

--- 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

News & Analysis at your fingertips.