0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/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
Oil - US Crude
Mixed
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
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
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
More View more
Real Time News
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/QXaLbmFSjd
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
  • Based on how US-China tensions and fiscal talks ended this past week, is the Japanese #Yen readying to push higher ahead? Check out the latest #JPY fundamental outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2020/08/10/Yen-May-Rise-as-Nasdaq-100-Falls-on-US-China-Tensions-Fiscal-Woes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/2Km23bVAy2
  • Tech leading the S&P 500 towards record highs, however, China risks rise. FTSE 100 hovers in a lower range. Get your #equities update from @JMcQueenFX here: https://t.co/IJAABNhxjs https://t.co/ZZ6njsuf5O
  • We are heading into the peak of summer yet there are some unexpected trends in key plays. Will complacency or fundamental instability win out? My weekend video: '#Dollar, S&P 500, #Gold - The Potential for Trend, Reversal or Congestion' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/08/Dollar-SP-500-Gold---The-Potential-for-Trend-Reversal-or-Congestion-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/7KoypvTwcL
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/40C8Sg5fM6
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:https://t.co/sR7HqpK8BI https://t.co/GZXAbZxL38
  • The Australian Dollar could be on the verge of a major breakout against the US #Dollar as $AUDUSD rates eye a close above pivotal chart resistance. Get your #currencies update from @DanielGMoss here: https://t.co/1y4serFW7h https://t.co/OtqppN7fcp
EUR/GBP Outlook: EUR vs GBP Price – Bulls Struggle for Momentum

EUR/GBP Outlook: EUR vs GBP Price – Bulls Struggle for Momentum

2020-06-03 14:15:00
Mahmoud Alkudsi, Analyst
Share:

EUR/GBP Technical Analysis

  • Bearish signals on EUR vs GBP price chart
  • Key chart points and trading zones to keep an eye on

EUR/GBP Price – Multi-Week High

On Friday, EUR/GBP rallied to a nine-week high at 0.9054 then retreated and settled below the 0.9000 handle as some bulls seemed to cut back. Nonetheless, the weekly candlestick closed in the green with a near 2.0% gain.

Alongside that, the Relative Strength Index (RSI) remained flat highlighting a paused bullish momentum.

EUR/GBP DAILY PRICE CHART (Aug 1, 2018 – June 3, 2020) Zoomed Out

EURGBP daily price chart 03-06-20 zoomed out
EUR Forecast
EUR Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q2 EUR Forecast
Get My Guide

EUR/GBP DAILY PRICE CHART (March 17 – June 3, 2020) Zoomed In

EURGBP daily price chart 03-06-20 zoomed in

Last week, EUR/GBP failed to move to the higher trading zone reflecting bull’s hesitation. This week, the price fell to a lower zone 0.8832 – 0.8912 and signaled a weaker bullish sentiment.

A close below the low end of the aforementioned trading zone may encourage market participants to press towards 0.8637 and a further close below that level could send EURGBP even lower towards 0.8498.

In turn, a close above the high end of the zone cancels the last bearish signal and could trigger a rally towards 0.9015. A further close above that level may extend the rally towards 0.9149.

That said, the weekly support and resistance levels underlined on the daily chart (zoomed in) should be considered in both bullish/ bearish scenarios.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Mahmoud Alkudsi
Building Confidence in Trading
Get My Guide

EUR/GBP FOUR HOUR PRICE CHART (MAy 13 – June 3, 2020)

EURGBP four hour chart 3-06-20

On Tuesday, EURGBP broke below the middle line on the uptrend lines fan originated from the May 14 low at 0.8826. The price failed on multiple occasions to overtake this line highlighting a possible start of a bearish momentum. Thus, any violation of the lower line on the fan would generate an additional bearish signal.

A break below 0.8826 could send EURGBP towards 0.8745. In turn, any break in the other direction i.e. above 0.8939 may trigger a rally towards 0.9015. Although, the daily support and resistance marked on the four-hour chart should be kept in focus.

Traits of Successful Traders
Traits of Successful Traders
Recommended by Mahmoud Alkudsi
Traits of Successful Traders
Get My Guide

Written By: Mahmoud Alkudsi, Market Analyst

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES

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.