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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • (Analyst Pick) Japanese Yen Outlook: USD/JPY May Fall But Broader Path Remains Bullish #Yen $USDJPY #JPY https://www.dailyfx.com/forex/analyst_picks/todays_picks/daniel_dubrovsky/2021/03/03/Japanese-Yen-Outlook-USDJPY-May-Fall-But-Broader-Path-Remains-Bullish.html?ref-author=Dubrovsky&QPID=917702&CHID=9 https://t.co/bGlHiuTCBn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.52%, while traders in Germany 30 are at opposite extremes with 71.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2Gl2SlMure
  • Update on #Cryptocurrencies #BITCOIN +2.89% #BITCOINCASH +3.09% #ETHEREUM +3.88% #RIPPLE +1.65% #LITECOIN +5.79%
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/GVZ0RT2Zh3
  • BoJ's Kataoka: Hard to see inflation nearing 2% Will keep making utmost effort toward price target - BBG #BoJ $JPY
  • 🇨🇳 Caixin Services PMI (FEB) Actual: 51.5 Previous: 52.0 https://www.dailyfx.com/economic-calendar#2021-03-03
  • BoJ's Kataoka: Desirable to lower rates to strengthen easing Will add stimulus without hesitation if needed Will extend special funding program if necessary - BBG #BoJ $JPY
  • RT @BrendanFaganFx: AUD/USD Eyes February High After Australian Q4 GDP Beat $AUD $USD Link: https://www.dailyfx.com/forex/market_alert/2021/03/03/AUDUSD-Eyes-February-High-After-Australian-Q4-GDP-Beat.html
  • BOJ's Kataoka says it is appropriate to link forward guidance to a price target - BBG $USDJPY
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your market update from @DanielGMoss here: https://t.co/9bkVXQuP5C https://t.co/K4OaGLhNm1
EUR/GBP Technical Analysis: Rejected Above 0.71 Figure

EUR/GBP Technical Analysis: Rejected Above 0.71 Figure

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.7045, 0.6987, 0.6918
  • Resistance: 0.7081, 0.7140, 0.7187

The Euro struggled to hold on to gains after rising to close the weekly opening gap against the British Pound. Near-term support is at 0.7045, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the June 29 low at 0.6987. Alternatively, a move above the 23.6% Fib at 0.7081 clears the way for a test of the 38.2% retracement at 0.7140.

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: Rejected Above 0.71 Figure

--- 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