Never miss a story from Ilya Spivak

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Ilya Spivak

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

EUR/GBP Technical Strategy: Flat

  • Euro completes Falling Wedge pattern, breaks four-month range top
  • Chart setup hints a move to test resistance above 0.90 figure is ahead
  • Long trade unattractive as ECB monetary policy decision approaches

The Euro maybe finally ready to make good on technical positioning arguing for gains versus the British Pound after months of procrastination. Prices completed bullish Falling Wedge chart formation and cleared four-month range resistance, opening the door for a move above the 0.90 figure.

Near-term resistance now stands at 0.9067, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis clearing a path to challenge the 50% level at 0.9184. Alternatively, a move back below the 23.6% Fib at 0.8922 eyes a retest of the Wedge top at 0.8870, then a support cluster in the 0.8795-0.8806 area.

While taking up the long side is compelling on purely technical grounds, the proximity of heavy-duty event risk by way warns against such a course. The upcoming ECB monetary policy announcement carries significant disappointment risk as the markets clamor for tightening clues, hinting it is best to stand aside.

Register here to follow the ECB policy decision and its impact on the Euro live!

EUR/GBP Technical Analysis: Ready to Push Beyond 0.90 Level?


--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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