Thursday, October 15, 2026

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FxWirePro: EUR/GBP trades a narrow range ahead of UK construction output data

EUR/GBP faces strong resistance at 78.75 levels (falling trendline). The pair is trading a narrow range on the day as markets await UK construction data due later in the EU session. Upside capped by 5-DMA at 0.7833, whil…

By FxWire Pro
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FxWirePro: EUR/GBP trades a narrow range ahead of UK construction output data
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  • EUR/GBP faces strong resistance at 78.75 levels (falling trendline).
     
  • The pair is trading a narrow range on the day as markets await UK construction data due later in the EU session.
     
  • Upside capped by 5-DMA at 0.7833, while downside tests but holds 100-DMA support at 0.7806.
     
  • 'Brexit' worries might continue capping any sharp upside for the Pound, thus limiting near-term downside for EUR/GBP.
     
  • A 'shooting star' pattern has been formed. A pattern resembling "Evening Start seen", close below 100-DMA could accentuate downside. Link as follows (http://www.econotimes.com/FxWirePro-Shooting-Star-formed-at-highs-EUR-GBP-could-test-077-levels-218312). 
     
  • Below 100-DMA next support seen at 0.7773 (38.2% Fib 0.7565 to 0.79 rally), 0.7750 (June 7th lows).
     

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By FxWirePro Team