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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
EUR/GBP Outlook Hints at Bullish Breakout. What's the Catch?

EUR/GBP Outlook Hints at Bullish Breakout. What's the Catch?

Dimitri Zabelin, Analyst

EUR/GBP Forecast, Euro, British Pound Analysis – TALKING POINTS

  • EUR/GBP outlook suggests the pair could experience a bullish breakout
  • Signs showing pair is bottoming out after aggressive selloff since August
  • EUR/GBP still has to shatter what has shown to be formidable resistance


EUR/GBP has risen a little over one percent since it bounced back from the late-January support at 0.8389 (gold-dotted line) and is now testing resistance at 0.8533 (white-dotted line). Clearing this ceiling opens the door for a third retest of a formidable, multi-tiered resistance zone defined by the 0.8597-0.8642 price parameters (labelled as “key resistance range”).

EUR/GBP – Daily Chart

Chart showing EUR/GBP

EUR/GBP chart created using TradingView

As noted on the chart, the pair attempted to shatter this barrier twice in December 2019 and mid-January of this year. However, both times EUR/GBP capitulated and faced a bout of selling pressure until it bottomed out. Looking ahead, a third defeat could catalyze a comparatively more aggressive decline if it reinforces the notion that traders are not yet confident in the pair’s ability to climb beyond this point.

EUR/GBP – Monthly Chart

Chart showing EUR/GBP

EUR/GBP chart created using TradingView

Looking at a monthly chart shows a relatively more encouraging picture for EUR/GBP bulls. After declining almost eight percent since August 2019 and retreating to a three-year support zone, the pair could be showing signs of a recovery. However, surmounting resistance outlined in the prior paragraph may be critical in propelling EUR/GBP higher. This is also not considering Brexit volatility which could skew the trajectory.


--- Written by Dimitri Zabelin, Jr Currency Analyst for

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.