Skip to content
EUR/GBP

The Pound is down against all majors

Orlando Gutierrez
Updated 1 min read
Article Rating:
Based on 1 vote
Login to rate this article.
Key support: 0.8593
Key Resistance: 0.8720 – 0.8535

Long Term View
Since the highs in December the Pound has rallied 7.5% against the Euro (-7.50% move in the EUR/GBP) and last week it rejected the 0.8550 level which is a massive area of resistance turned support from May 2020.

1H Chart Analysis
Price is trading inside of a falling wedge below the weekly pivot and this 1H candle has engulfed the last 6 1H candles in a very bullish move breaking with the wedge.

The Pound is falling against all major currencies (GBP/USD -0.55%). This dip in the Pound has created a bullish move in the EUR/GBP for a possible retest of the weekly highs.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
8cap
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Trade Now
avatrade
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Trade Now
avatrade
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
Trade Now
avatrade
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Trade Now

More EUR/GBP