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.

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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.02% France 40: -0.02% Germany 30: -0.06% US 500: -0.34% Wall Street: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SalQF25bMw
  • Heads Up:🇷🇺 GDP Growth Rate YoY Final (Q1) due at 16:00 GMT (15min) Expected: -1% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-06-15
  • USD/JPY trades to a fresh weekly high (110.17) as longer-dated US Treasury yields recover ahead of the Federal Reserve interest rate decision. Get your $USDJPY market update from @DavidJSong here:https://t.co/9iWCr5sxZS https://t.co/RDUNS9V0Vn
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.10% 🇪🇺EUR: 0.03% 🇯🇵JPY: -0.02% 🇨🇦CAD: -0.29% 🇦🇺AUD: -0.40% 🇳🇿NZD: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1QhBhWISuN
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 0.42% Germany 30: 0.28% FTSE 100: 0.25% US 500: -0.27% Wall Street: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WZkc0V1t2R
  • We are a day away from the FOMC decision and the anxiety is palpable in the markets. DailyFX Chief Strategist @JohnKicklighter looks at the markets ahead of the key event. https://t.co/G8pmyUKsUv
  • $GBPUSD: Range is breaking to downside, watch trend-line support. A break out of the range may not be clean, need to be nimble. Get your market update from @PaulRobinsonFX here:https://t.co/RB7i1fbzvv https://t.co/pwJPnLhw6t
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.19% Gold: -0.24% Silver: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/GZEKTPfr86
  • 🇺🇸 NAHB Housing Market Index (JUN) Actual: 81 Expected: 83 Previous: 83 https://www.dailyfx.com/economic-calendar#2021-06-15
  • 🇺🇸 Business Inventories MoM (APR) Actual: -0.2% Expected: -0.1% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-06-15
EUR/GBP Technical Analysis: March Low in the Crosshairs

EUR/GBP Technical Analysis: March Low in the Crosshairs

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 0.7311
  • Support: 0.7005, 0.6887, 0.6770
  • Resistance: 0.7149, 0.7239, 0.7392

The Euro looks set to continue lower against the British Pound having topped as expected after putting in a Shooting Star candlestick. Near-term support is at 0.7005, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 50% level at 0.6887. Alternatively, a turn back above the 23.6% Fib at 0.7149 clears the way for a challenge of the 14.6% expansion at 0.7239.

We sold EURGBP at 0.7311 and have since booked profit on half of the trade. The remainder of the trade will continue to stay in play with a stop-loss at the breakeven level (0.7311) to take advantage of any further downward movement.

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

EUR/GBP Technical Analysis: March Low in the Crosshairs

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