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.

Free Trading Guides
EUR/USD
Bearish
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
GBP/USD
Bullish
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
Bearish
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
Gold
Bullish
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
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • European Opening Calls From IG: #FTSE 7631 +0.26% #DAX 13624 +0.50% #CAC 6070 +0.40% #AEX 614 +0.31% #MIB 23993 +0.62% #IBEX 9639 +0.29% #STOXX 3803 +0.37%
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/i0aBDo4Dyt
  • #EURCHF Showing Signs of Bottoming Out: Where is it Heading? https://www.dailyfx.com/forex/technical/article/special_report/2020/01/22/EURCHF-Showing-Signs-of-Bottoming-Out-Where-is-it-Heading.html
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/925P5uspMg
  • ❗ Heads Up ❗ I will be covering tomorrow's Australian jobs report and the outlook for the Australian Dollar starting at 00:15 GMT on Thursday. Signup for the session below! $AUDUSD $AUDJPY $AUDCAD $AUDNZD - https://t.co/vZonusSFKl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.34%, while traders in Germany 30 are at opposite extremes with 82.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZPq0ljlzKe
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.01% 🇬🇧GBP: -0.00% 🇦🇺AUD: -0.07% 🇨🇦CAD: -0.10% 🇨🇭CHF: -0.11% 🇯🇵JPY: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bJhUPVJqTa
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.44% Wall Street: 0.43% US 500: 0.41% France 40: 0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/r4xNYs4vlg
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/rGRzQtgtOb
  • Missed my webinar? See the recording and a bullet point summary of the main topics discussed: - #WEF2020 - EU-US #Tradewar tensions - IMF World Economic Outlook unpacked - Key data to watch for the week ahead - Biggest risks facing the global economy https://www.dailyfx.com/forex/market_alert/2020/01/22/Japanese-Yen--Gold-Prices-May-Retreat-on-Davos-Forum.html
EURGBP Reversal of 14-Week Uptrend May Accelerate in Week Ahead

EURGBP Reversal of 14-Week Uptrend May Accelerate in Week Ahead

2019-08-16 00:30:00
Dimitri Zabelin, Junior Currency Analyst
Share:

EURGBP TECHNICAL ANALYSIS

  • EURGBP decline may accelerate in the week ahead
  • Critical support level to monitor possibly at 0.9110
  • Volatile Italian politics could result in Euro selloff

See our free guide to learn how to use economic news in your trading strategy!

EURGBP has closed higher for 14 consecutive weeks after it briefly touched the upper bound of a three-year support range between 0.8300-0.8477 (red dotted lines). The pair’s decline may accelerate next week if political volatility in Italy pressures the pair and leads to a selloff in the Euro.

Exhausted Pair May be Ready to Descend

Chart Showing EURGBP

EURGBP chart created using TradingView

Looking at a daily chart, EURGBP was climbing along a rising-support channel (yellow lines) before breaking below it with follow-through. Traders may wait to add exposure to any long positions until the pair tests critical support at 0.9110 (red dotted line). A rebound from this floor with confirmation may push buyers into the market and push the pair higher.

EURGBP – Daily Chart

Chart Showing EURGBP

EURGBP chart created using TradingView

Looking ahead, headline-breaking news related to Brexit will be particularly important to monitor because of its frequent impact on GBP. When the pair initially was initially losing steam in the 12th week and was looking to close lower, fears of a no-deal Brexit pressured Sterling and sent the pair to two-year highs.

EURGBP TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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

DISCLOSURES

News & Analysis at your fingertips.