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 extends near-term uptrend after bullish reversal warning signal
  • On the 4-hour chart, prices attempting to resume the dominant downtrend
  • Closes to the downside required before arguing the pair may keep falling

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

Previously, I highlighted a bullish reversal signal in EUR/GBP which resulted in the pair climbing over 1% before trimming gains to about 0.3%. On the daily chart below, the lower range of horizontal resistance held at 0.88108 which further reinforced this area. Prices then fell through the next area of interest at 0.87637.

From here, near-term support appears to be at 0.87234 which is the October 10 low. A descent through it exposes a horizontal range of support between 0.86983 and 0.86683. The reason I am highlighting these support levels is because of what is brewing on the 4-hour chart.

EUR/GBP Daily Chart

EUR/GBP Technical Analysis: Will the Dominant Downtrend Resume?

EUR/GBP 4-Hour Chart

Zooming in on the chart below, the Euro has descended through the near-term rising support line against the British Pound. Since then, prices rebounded just above 0.87234 to close just below 0.87637 (support levels mentioned above).

The close under the trend line will require further confirmation to argue that EUR/GBP could be heading lower next. This could be the case if on the daily chart, the pair ends a day under 0.87234. Otherwise, the bullish reversal highlighted last could remain in play guiding EUR/GBP to the upside.

You may follow me at @ddubrovskyFX for more timely updates should the pair make active moves in the interim.

EUR/GBP Technical Analysis: Will the Dominant Downtrend Resume?

**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