- EUR/GBP is hovering off daily highs near the 0.8640 level.
- Market players will pay attention to the speech of the newly appointed ECB’s President, Christine Lagarde at 20:30 GMT.
EUR/GBP daily chart
On the daily chart, EUR/GBP is trading in a bear trend below its main daily simple moving averages (DMAs). Over the last weeks of trading, the euphoria of a Brexit deal sank the spot below near the 0.8600 handle. This Monday, investors will be on the lookout for any comments on monetary policy from the newly appointed ECB’s President, Christine Lagarde, at 20:30 GMT.
EUR/GBP four-hour chart
EUR/GBP is trading below the downward sloping 100 and 200 SMAs, suggesting a bearish bias in the medium term. In the medium term, a daily close below the 0.8575 support level could lead the spot to the 0.8500 handle, according to the Technical Confluences Indicator.
EUR/GBP 30-minute chart
EUR/GBP is sidelined trading above the 0.8625 price level. Bulls would need a break above 0.8650 to reach the 0.8680 resistance in the near term.
Additional key levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD turns negative near 1.0760
The sudden bout of strength in the Greenback sponsored the resurgence of the selling pressure in the risk complex, dragging EUR/USD to the area of daily lows near 1.0760.
GBP/USD comes under pressure and challenges 1.2500
GBP/USD now rapidly loses momentum and gives away initial gains, returning to the 1.2500 region on the back of the strong comeback of the US Dollar.
Gold retreats from highs on stronger Dollar, yields
XAU/USD trims part of its initial advance in response to the jump in the Dollar's buying interest and the re-emergence of the upside pressure in US yields.
XRP tests support at $0.50 as Ripple joins alliance to work on blockchain recovery
XRP trades around $0.5174 early on Friday, wiping out gains from earlier in the week, as Ripple announced it has joined an alliance to support digital asset recovery alongside Hedera and the Algorand Foundation.
Week ahead – US inflation numbers to shake Fed rate cut bets
Fed rate-cut speculators rest hopes on US inflation data. After dovish BoE, pound traders turn to UK job numbers. Will a strong labor market convince the RBA to hike? More Chinese data on tap amid signs of slow Q2 start.