Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
EUR/GBP Technical Analysis: Oscillating in Familiar Range

EUR/GBP Technical Analysis: Oscillating in Familiar Range

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

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.7081, 0.7045, 0.6987
  • Resistance: 0.7140, 0.7187, 0.7235

The Euro continues to oscillate in a now-familiar choppy range below the 0.72 figure against the British Pound. A daily close above the 38.2% Fibonacci retracement at 0.7140 exposes the 50% level at 0.7187. Alternatively, a move below 0.7081 (23.6% Fib, trend line) opens the door for a challenge of the 14.6% retracement at 0.7045.

An actionable trade setup is absent at this point, arguing against committing to a directional bias on long or short side. We will continue to stand aside for now, waiting for a clear-cut trading opportunity to present itself in the days ahead.

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

--- 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