EUR/GBP Possible Downtrend - 4 HR

The pair is trending upwards towards a supply zone - providing us opportunities for a possible sell off on the 4 HR chart.

We will be looking to execute a sell in the supply zone around 0.86800, as this is in the 50% - 61.8% Fibonacci retracement region - awaiting CSI confirmation.

Should the pair break above the supply zone, and pass 0.88400 we will consider this trade void.

Key Resistance Level: (SL) 0.88400

Entry: 0.86800

Key Support Level: (TP) 0.83250

EURGBP

This content is for information purposes only and does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe for or purchase any particular investment. Opinions expressed in this document may be changed without notice at any time after publication. We therefore disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of or reliance upon the information. Charts and graphs are provided for illustrative purposes only.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD bounces off the lows as the market mood improves

EUR/USD is bouncing toward 1.18, recovering from the fall triggered by upbeat US jobs figures and escalating Sino-American tensions. Investors are eyeing the fiscal stimulus impasse in Washington after Trump's executive order and the market mood has somewhat improved.

EUR/USD News

GBP/USD recovering toward 1.31 as the dollar weakens

GBP/USD has recovered toward 1.31 as the dollar pares early gains amid the impasse in Washington over new fiscal stimulus. A survey showing that a third of UK employers may lay off workers is weighing on the pound.

GBP/USD News

XAU/USD retreats to $2030 after making a run to $2050

Gold prices spiked to the upside after the beginning of the American session but then pulled back erasing gains. XAU/USD jumped to $2049.70/oz, and as of writing, it trades at $2033, practically at the same level it closed on Friday.

Gold News

It is time for King Bitcoin

The crypto board starts the week stuck on critical levels. The war for dominance has been favorable to Ethereum for weeks, and the graphics seem to indicate that it's now Bitcoin's turn to win a few battles.

Read more

WTI: $42.30 is the level to beat for the bulls

WTI (futures on Nymex) climbed nearly 1.50% in a bid to test the $42 mark on Monday, in the wake of the upbeat outlook painted by Saudi Aramco’s CEO Nasser and expectations that Iraq will cut output in August.

Oil News

Forex Majors

Cryptocurrencies

Signatures