EUR/GBP edges above 0.77, likely to test 100-DMA at 0.7792

FX:EURGBP   Euro / British Pound
281 0 16
EUR/GBP             has bounced off major trendline support at 0.7570 and is attempting to reclaim the 0.77 handle.

Pair has hit highs of 0.7703 and is currently trading at 0.7691, eyes 100-DMA at 0.7792.

UK manufacturing PMI is due later today and markets expect uptick higher to 49.9 from a sharp drop seen in April to 49.2 points.

Any miss on the data could weigh heavily on the pound raising the scope for upside in EUR/GBP             .

Break below 0.7570 could see sharp fall to 0.7425 levels.

Technicals support upside in the pair, weakness only below 0.7570.

Pair now finds immediate support and resistance at 0.7656 (10-DMA) and 0.7716 (Feb 5th highs).

Go long on breakout above 0.77, SL: 0.7655, TP: 0.7750/0.7790
Trade closed: target reached: EUR/GBP has broken above 78.6% Fib at 0.7865, but struggles at 0.79 handle.

Pair finds major resistance at 0.7927. Expect some consolidation at current levels.

Break above 0.7927 to resume upside.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out