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.

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
Bearish
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
Oil - US Crude
Bearish
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
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
Bearish
GBP/USD
Bearish
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
USD/JPY
Bullish
More View more
Real Time News
  • Fed's Barkin says markets appear to be more concerned about inflation being low, not high $SPX $XAUUSD
  • Heads Up:🇺🇸 Fed Williams Speech due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:🇲🇽 Interest Rate Decision due at 18:00 GMT (15min) Expected: 4.25% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2020-09-24
  • Fed's Barkin says he views moderate inflation mostly delivered from market power and price transparency $SPX
  • The S&P 500 breakdown is testing the first major zone of support and we’re looking for a reaction. Get your S&P 500 technical analysis from @MBForex here:https://t.co/JrTNmQ5c7g https://t.co/7HSxMUZYWn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.89%, while traders in EUR/GBP are at opposite extremes with 65.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7tkZBRqU8Z
  • Heads Up:🇺🇸 Fed Evans Speech due at 17:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • After an aggressive stimulus-driven rally drove prices in equities throughout the summer, a bit of uncertainty has begun to enter the equation. Get your #equities market update from @JStanleyFX here::https://t.co/mwy35kvLtv https://t.co/thSFEF50Px
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.35% Gold: 0.32% Oil - US Crude: 0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/G2fyCxsb3V
  • UK virus cases rise by 6,634, most since start of pandemic $GBPUSD
EUR/GBP Technical Analysis: March Bottom Under Pressure

EUR/GBP Technical Analysis: March Bottom Under Pressure

2015-05-26 22:41:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.7052, 0.6950, 0.6825
  • Resistance: 0.7084, 0.7153, 0.7282

The Euro continues to edge downward having declined against the British Pound as expected after producing a Bearish Engulfing candlestick pattern. Near-term support is at 0.7052, the 50% Fibonacci expansion, with a break below that on a daily closing basis exposing the 61.8% level at 0.6950. Alternatively, a reversal above trend line resistance at 0.7084 clears the way for a test of the 38.2% Fib at 0.7153.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

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

EUR/GBP Technical Analysis: March Bottom Under Pressure

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