EUR/GBP Technical Analysis: Just a Matter of Time
January 10, 2018 2:41 pmVideo
Latest News
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
- Technical Analysis – Goldman Sachs stock gains on strong earnings April 15, 2024
- Trading Signals for ETH/USD (Ethereum) for April 15-17, 2024: buy above $3,125 (200 EMA – 2/8 Murray) April 15, 2024
- Analysis for EUR/USD on April 15th. Monday – a tough day for the euro April 15, 2024
- GBP/USD: trading plan for the US session on April 15th (analysis of morning deals) April 15, 2024
- EUR/USD: trading plan for the US session on April 15th (analysis of morning deals). Euro is at an impasse April 15, 2024
- GBP/USD: Will sterling hold steady against dollar? April 15, 2024
- Technical Analysis – USDJPY rallies to another fresh 34-year high April 15, 2024
- Will Netflix earnings take the share price closer to its record highs? – Stock Markets April 15, 2024
- EUR/USD. April 15th. Bulls panic and retreat from the market April 15, 2024
- GBP/USD. April 15th. The dollar gains confidence April 15, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and the US Dollar Index April 15, 2024
- XM’s Heartfelt Ramadan Iftar Support April 15, 2024
- Weekly forecast based on simplified wave analysis of EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on April 15th April 15, 2024
EUR/GBP Technical Analysis: Just a Matter of Time
In the past five days, the EUR/GBP pair has fallen from a high of 0.8926 to a low of 0.8806 as shown below.
Since then, the pair has been going back and forth, trying to establish weak support and resistance points between the 0.8834 and the 0.8806 level.
The pair seems to have found a solid support level and is expected to go up as buyers consolidate. As I have mentioned before, I expect the political issues in the United Kingdom to potentially weigh down the pound while the exciting economic growth and optimism in the euro area to act as a catalyst for growth.
The likely scenario is where the pair starts a new upward trend. Long traders may set take profit at the 38.2% Fibonacci retracement level of 0.8851 and another one at the 50% level of 0.8865.
In the unlikely event that the pair breaks the current support, then we may expect more downside pressures as the pair tries to find another support. Possibly, we can see the pair drop to – or near – the one-month low of 0.8683.
The post EUR/GBP Technical Analysis: Just a Matter of Time appeared first on Forex.Info.
Related Posts: