The Euro struggled to break the 0.8800 resistance area and later declined against the British Pound. The EUR/GBP pair traded below the 0.8780 and 0.8760 support levels to move into a bearish zone.

The pair even traded below the 0.8750 level and the 50 hourly simple moving average. A low was formed at 0.8743 on FXOpen and later the pair started a solid upside correction above 0.8760.


There was a break above the 50% Fib retracement level of the last decline from the 0.8792 high to 0.8743 low. However, buyers failed to gain traction above the 0.8770 resistance and the 50 hourly SMA.

Overall, it seems like the EUR/GBP pair could continue to decline as long as it is trading below 0.8770 and 0.8790. On the downside, the key supports are 0.8750 and 0.8725. If there is an upside break, buyers might look for more gains above 0.8800 in the near term.

RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

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.


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.


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