Thursday, October 15, 2026

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FxWirePro: EUR/GBP rally stalls at 0.7436, good to go short

EUR/GBP rallied to 0.7435 on GBP weakness, last time cross traded at these levels was May Daily slow stochs are now closing in on overbought levels which could limit further gains EUR/GBP is currently trading at 0.7415 ,…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • EUR/GBP rallied to 0.7435 on GBP weakness, last time cross traded at these levels was May

  • Daily slow stochs are now closing in on overbought levels which could limit further gains

  • EUR/GBP is currently trading at 0.7415 , immediate resistance is seen at 0.7445 (30 DMA Upper Bollinger) ahead of 0.7482 (Daily High May 7)

  • On the flipside support is located at 0.7335 (Daily Low Sept 28) and further below at 0.7326 (21 DMA)

  • In the day ahead: UK consumer credit/mortgage approvals & CBI retail sales survey in pipeline, Carney speaks 1915GMT 

Recommendation: Sell rallies around 0.7425, SL: 0.7450, TP: 0.7340 

Resistance Levels:

R1: 0.7445 (30 DMA Upper Bollinger)

R2: 0.7482 (Daily High May 7)

R3: 0.7510 (Daily High Feb 5)

Support Levels:

S1: 0.7335 (Daily Low Sept 28)

S2: 0.7326 (21 DMA)

S3: 0.7316 (10 DMA)

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By FxWirePro Team