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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
EUR/GBP Technical Analysis: Sideways Trading Post Brexit

EUR/GBP Technical Analysis: Sideways Trading Post Brexit

Oded Shimoni, Junior Currency Analyst

Talking Points:

- EUR/GBP trading sideways between well-defined technical levels

- Further upside conviction might need to see a break above resistance at 0.8500

- The 0.8250 level appears to be the initial focus for possible support

Find REAL TIME traders positioning with DailyFX’s SSI Indicator Here

The EUR/GBP is trading sideways between well-defined technical levels after the pair surged higher following the Brexit vote.

At the moment, the technical picture appears clear; further upside conviction may need to see a break above the 0.85 handle initially, which proved influential in the past, and also coincides with possible trend line resistance.

A break higher might expose the “post-Brexit” highs around the 0.86 figure before what appears to be a key area of resistance above the round 0.87 number.

A failure to move above the 0.85 handle could put the focus on the 0.8250 level for possible support, but longs may hold back from entering there without being able to achieve new highs.

If this scenario plays out, is seems likely that eyes will be on the zone below 0.81 to the 0.80 level, which also coincides with possible long term trend line support and the 0.38 Fib of the up move (as measured from the November 2015 lows), for possible reemergence of the uptrend.

Meanwhile, the DailyFX Speculative Sentiment Index (SSI) is showing that about 29.9% of traders are long the EUR/GBP at the time of writing. The SSI is mainly used as a contrarian indicator, implying strength ahead.

You can find more info about the DailyFX SSI indicator here.

EUR/GBP Daily Chart: July 28, 2016

--- Written by Oded Shimoni, Junior Currency Analyst for

To contact Oded Shimoni, e-mail

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.