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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
EUR/GBP Technical Analysis: Euro Breaks Key Resistance. Now What?

EUR/GBP Technical Analysis: Euro Breaks Key Resistance. Now What?

What's on this page

EUR/GBP Technical Strategy: Flat

  • Euro breaks above 9-month chart resistance against British Pound
  • A break of March swing high might open the way above 0.90 figure
  • Near-term positioning hints entering long trade premature for now

See our free guide to help build confidence in your EUR/GBP trading strategy !

The Euro may be on the cusp of launching a sustained move higher against the British Pound after breaching nine-month trend resistance.

With the series of lower highs and lows established from October 2017 now invalidated, prices look poised to challenge the March 7 high at 0.8968. A daily close above that opens the door for a test of the October 12 peak at 0.9033. Alternatively, a turn back below resistance-turned-support – now at 0.8876 – exposes a rising trend line guiding the upswing since mid-June (currently at 0.8841).

EUR/GBP Daily Chart

A look at shorter-term positioning seems to argue against buying in however. The four-hour chart reveals that the near-term uptrend has been broken, with a deeper pullback possible if the pair manages to get below 0.8924. From a tactical perspective, it seems premature to commit to commit on the long side before this retracement finds a demonstrable bottom.

EUR/GBP 4-Hour Chart


--- Written by Ilya Spivak, Currency Strategist for

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

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