EUR/GBP Technical Analysis: Trend-Defining Support Under Fire

EUR/GBP Technical Strategy: Flat

  • Euro testing trend-defining technical support against the British Pound
  • Confluence of former resistance, current support is key inflection point
  • Opting to wait for resolution before committing to any EUR/GBP trade

See our free guide to help build confidence in your EUR/GBP trading strategy!

The Euro finds itself at a decisive chart inflection point, with resolution here likely to be defining for its trend against the British Pound. Prices are sitting squarely atop rising trend support guiding the move higher since mid-April. That is reinforced by former resistance establishing the downswing from October 2017. A break below this region – now in the 0.8846-0.8900 area – would make for a convincing signal that sellers have claimed the upper hand.

Euro vs British Pound chart - daily

Turning to the four-hour chart for a more detailed look, the pair is testing minor support in the 0.8893-95 area, with a break below that exposing the key support region. A sustained break below that opens the door for a challenge of the next downside barrier in the 0.8795-0.8815 zone. Immediate resistance is

Article source: https://www.dailyfx.com/forex/technical/home/analysis/eur-gbp/2018/09/28/EURGBP-Technical-Analysis-Trend-Defining-Support-Under-Fire.html

EUR/GBP Technical Analysis: Trend-Defining Support Under Fire

EUR/GBP Technical Strategy: Flat

  • Euro testing trend-defining technical support against the British Pound
  • Confluence of former resistance, current support is key inflection point
  • Opting to wait for resolution before committing to any EUR/GBP trade

See our free guide to help build confidence in your EUR/GBP trading strategy!

The Euro finds itself at a decisive chart inflection point, with resolution here likely to be defining for its trend against the British Pound. Prices are sitting squarely atop rising trend support guiding the move higher since mid-April. That is reinforced by former resistance establishing the downswing from October 2017. A break below this region – now in the 0.8846-0.8900 area – would make for a convincing signal that sellers have claimed the upper hand.

Euro vs British Pound chart - daily

Turning to the four-hour chart for a more detailed look, the pair is testing minor support in the 0.8893-95 area, with a break below that exposing the key support region. A sustained break below that opens the door for a challenge of the next downside barrier in the 0.8795-0.8815 zone. Immediate resistance is

Article source: https://www.dailyfx.com/forex/technical/home/analysis/eur-gbp/2018/09/28/EURGBP-Technical-Analysis-Trend-Defining-Support-Under-Fire.html

EUR/GBP Technical Analysis: Trend-Defining Support Under Fire

EUR/GBP Technical Strategy: Flat

  • Euro testing trend-defining technical support against the British Pound
  • Confluence of former resistance, current support is key inflection point
  • Opting to wait for resolution before committing to any EUR/GBP trade

See our free guide to help build confidence in your EUR/GBP trading strategy!

The Euro finds itself at a decisive chart inflection point, with resolution here likely to be defining for its trend against the British Pound. Prices are sitting squarely atop rising trend support guiding the move higher since mid-April. That is reinforced by former resistance establishing the downswing from October 2017. A break below this region – now in the 0.8846-0.8900 area – would make for a convincing signal that sellers have claimed the upper hand.

Euro vs British Pound chart - daily

Turning to the four-hour chart for a more detailed look, the pair is testing minor support in the 0.8893-95 area, with a break below that exposing the key support region. A sustained break below that opens the door for a challenge of the next downside barrier in the 0.8795-0.8815 zone. Immediate resistance is

Article source: https://www.dailyfx.com/forex/technical/home/analysis/eur-gbp/2018/09/28/EURGBP-Technical-Analysis-Trend-Defining-Support-Under-Fire.html

EUR/GBP Technical Analysis: Trend-Defining Support Under Fire

EUR/GBP Technical Strategy: Flat

  • Euro testing trend-defining technical support against the British Pound
  • Confluence of former resistance, current support is key inflection point
  • Opting to wait for resolution before committing to any EUR/GBP trade

See our free guide to help build confidence in your EUR/GBP trading strategy!

The Euro finds itself at a decisive chart inflection point, with resolution here likely to be defining for its trend against the British Pound. Prices are sitting squarely atop rising trend support guiding the move higher since mid-April. That is reinforced by former resistance establishing the downswing from October 2017. A break below this region – now in the 0.8846-0.8900 area – would make for a convincing signal that sellers have claimed the upper hand.

Euro vs British Pound chart - daily

Turning to the four-hour chart for a more detailed look, the pair is testing minor support in the 0.8893-95 area, with a break below that exposing the key support region. A sustained break below that opens the door for a challenge of the next downside barrier in the 0.8795-0.8815 zone. Immediate resistance is

Article source: https://www.dailyfx.com/forex/technical/home/analysis/eur-gbp/2018/09/28/EURGBP-Technical-Analysis-Trend-Defining-Support-Under-Fire.html