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: Euro Snaps 4-Day Win Streak

EUR/GBP Technical Analysis: Euro Snaps 4-Day Win Streak

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

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.7345, 0.7302, 0.7258
  • Resistance: 0.7399, 0.7487, 0.7574

The Euro snapped a four-day winning streak against the British Pound after bouncing as expected after putting in a bullish Piercing Line candlestick pattern. Near-term resistance is in the 0.7384-99 area (March 25 high, 76.4% Fibonacci expansion), with a break above that on a daily closing basis exposing the 100% level at 0.7487. Alternatively, a reversal below the 61.8% Fib at 0.7345 clears the way for a test of the 50% expansion at 0.7302.

Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.

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.