Skip to Content
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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
EUR/GBP Technical Analysis: Waiting for Short to Trigger

EUR/GBP Technical Analysis: Waiting for Short to Trigger

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

Talking Points:

  • EUR/GBP Technical Strategy: Pending Short at 0.7839
  • Support: 0.7804, 0.7761, 0.7727
  • Resistance: 0.7869, 0.7891, 0.7926

The Euro appears to be resuming its long-term down trend against the British Pound following the appearance of a bearish Three Inside Down candle pattern. Near-term support is at 0.7804, 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 0.7761-65 area marked by the 38.2% and the September 30 low. Alternatively, a reversal above 0.7856-69 area (Triangle floor, 38.2% Fib retracement) clears the way for a test of the 50% threshold at 0.7891.

Prices are too close to support to justify entering short from a risk/reward perspective and we have established a pending order to sell the pair at 0.7839. If triggered, the position will initially target 0.7804 with a stop-loss activated on a daily close above 0.7873.

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

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.