Never miss a story from Daniel Dubrovsky

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 Daniel Dubrovsky

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 Analysis

  • EUR/GBP on the verge of its longest weekly winning streak in about 16 months
  • The pair may be getting ready to either extend its dominant uptrend or reverse
  • Clearing horizontal range resistance between 0.906 and 0.9098 won’t be easy

Just started trading EUR/GBP? Check out ourbeginners’ FX markets guide!

EUR/GBP prices may be on the verge of attempting to breach 2018 highs again after failing to do so when I looked at the pair last week. This area is a range of horizontal support in-between 0.90607 and 0.90986. A push above it, with confirmation, would open the door to testing the August 2017 highs between 0.92625 and 0.93065.

Meanwhile the pair’s dominant uptrend from the middle of November is being supported by a rising trend line. This support line has aided to set the stage for EUR/GBP’s longest consecutive winning streak in about 16 months. If prices end Friday above 0.8979, the pair will have confirmed 4 weeks of gains. A fifth one would be its longest since May 2017.

Looking at the daily chart below, EUR/GBP is running out of congestion space between support and resistance. It perhaps won’t be long until it sets the stage for its next move and whether it will be extending its uptrend or turning lower. Clearing 0.90986 exposes the 38.2% Fibonacci extension at 0.91172 before testing the 78.6% retracement at 0.91596.

On the other hand, a descent through the rising trend line opens the door to testing the September 21st high around 0.89957. Closing under that then leaves near-term support as a horizontal range in-between 0.89235 and 0.89394. You may follow me on Twitter @ddubrovskyFX for more immediate updates in what is going on in EUR/GBP trading.

EUR/GBP Daily Chart

EUR/GBP Technical Analysis: Best Weekly Gains in 2018 at Risk?

**Charts created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter