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
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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
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
Mixed
More View more
Real Time News
  • Silver prices in freefall... https://t.co/g32kz3VLNi
  • #Silver extends losses over 3.1% heading into Thursday's Asia Pacific trading session
  • South Korean Vice Finance Minister Kim Yong-Beom: South Korean stock market volatility may expand. Recent Won gains may be due to Chinese Yuan's rise -BBG
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:https://t.co/QQwAZTxZFg https://t.co/4zDmzLQZ3j
  • #EURUSD Selloff to Accelerate? Biden-Trump Race for Florida Tightens - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/23/EURUSD-Selloff-to-Accelerate-Biden-Trump-Race-for-Florida-Tightens.html
  • $AUDUSD has recorded 4 consecutive down-days for the first time since mid-June, with price collapsing below the 61.8% Fib to support at the June high (0.7064) The last time $AUDUSD recorded losses for five days in a row was during the #Coronavirus Crash in March $AUD https://t.co/RZZ5SGRMnJ
  • 🇳🇿 Balance of Trade (AUG) Actual: N$-353M Previous: N$447M https://www.dailyfx.com/economic-calendar#2020-09-23
  • Heads Up:🇳🇿 Balance of Trade (AUG) due at 22:45 GMT (15min) Previous: N$282M https://www.dailyfx.com/economic-calendar#2020-09-23
  • Could #CrudeOil prices be readying to resume the former uptrend? Or will prices extend losses ahead? #WTI has lately been trading within a Symmetrical Triangle chart pattern Learn more about this formation here - https://www.dailyfx.com/education/technical-analysis-chart-patterns/triangle-pattern.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/g9UlHCePF1
  • Australian Dollar has broken parallel support and remains at risk for further losses within the broader June uptrend. Get your $AUDUSD technical analysis from @MBForex here:https://t.co/gTmlLX5t06 https://t.co/GfEixh5aoP
EUR/GBP Technical Analysis: Sideways Trading Post Brexit

EUR/GBP Technical Analysis: Sideways Trading Post Brexit

2016-07-28 05:56:00
Oded Shimoni, Junior Currency Analyst
Share:

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

EUR/GBP Technical Analysis: Sideways Trading Post Brexit

--- Written by Oded Shimoni, Junior Currency Analyst for DailyFX.com

To contact Oded Shimoni, e-mail oshimoni@dailyfx.com

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

DISCLOSURES