Euro vs the British Pound - Who is Winning and Why?
Wednesday,31/08/2016|06:11GMTby
Aayush Jindal
Traders are advised to keep a close watch on the highlighted support zone on the daily chart.
Bloomberg
This article was written by Aayush Jindal, currency analyst at Titan FX.
The euro has surged higher versus the British pound during the past couple of weeks, and when I look at the charts I think there are more upsides left going forward.
In this article, we shall try to figure out why the euro may keep rising versus the pound with the help of the EUR/GBP pair daily chart.
EUR/GBP Technical Analysis and Euro Strength Explained
On 16th August the euro posted a new monthly high of 0.8725 versus the pound. The EUR/GBP pair has corrected since then, but the trend is still intact and in favor of the bulls. It has moved below the 23.6% Fib retracement level of the last leg from the 0.8177 low to 0.8725 high.
The main reason why I think the pair is in an uptrend is due to an ascending channel formed on the daily chart.
The highlighted pattern holds a lot of value for the euro bulls as it acted as a major support on many occasions earlier. So, it won’t be easy for sellers to break it and take the pair lower.
Moreover, the 50% Fib retracement level of the last leg from the 0.8177 low to 0.8725 high is also around the channel trend line area. So, we can say that there is a monster barrier formed on the downside at 0.8450.
If the pair corrects further lower from the current levels, then it may find buyers near the stated support level. Only a break below the channel trend line and a close might ignite a change in trend for the euro. If you are looking to buy EUR/GBP, then keep your stop tight below the channel support area.
The daily RSI is still above the 50 level, and approaching a support zone, which means there can be a bounce in EUR/GBP sooner or later.
Fundamentally, the UK recently saw a couple of economic releases like Consumer Credit by the Bank of England. The result was disappointing, and a couple of other similar outcomes may weigh on the GBP going forward.
In short, if you are planning to buy EUR/GBP, then keep a close watch on the highlighted support zone on the daily chart.
This article was written by Aayush Jindal, currency analyst at Titan FX.
The euro has surged higher versus the British pound during the past couple of weeks, and when I look at the charts I think there are more upsides left going forward.
In this article, we shall try to figure out why the euro may keep rising versus the pound with the help of the EUR/GBP pair daily chart.
EUR/GBP Technical Analysis and Euro Strength Explained
On 16th August the euro posted a new monthly high of 0.8725 versus the pound. The EUR/GBP pair has corrected since then, but the trend is still intact and in favor of the bulls. It has moved below the 23.6% Fib retracement level of the last leg from the 0.8177 low to 0.8725 high.
The main reason why I think the pair is in an uptrend is due to an ascending channel formed on the daily chart.
The highlighted pattern holds a lot of value for the euro bulls as it acted as a major support on many occasions earlier. So, it won’t be easy for sellers to break it and take the pair lower.
Moreover, the 50% Fib retracement level of the last leg from the 0.8177 low to 0.8725 high is also around the channel trend line area. So, we can say that there is a monster barrier formed on the downside at 0.8450.
If the pair corrects further lower from the current levels, then it may find buyers near the stated support level. Only a break below the channel trend line and a close might ignite a change in trend for the euro. If you are looking to buy EUR/GBP, then keep your stop tight below the channel support area.
The daily RSI is still above the 50 level, and approaching a support zone, which means there can be a bounce in EUR/GBP sooner or later.
Fundamentally, the UK recently saw a couple of economic releases like Consumer Credit by the Bank of England. The result was disappointing, and a couple of other similar outcomes may weigh on the GBP going forward.
In short, if you are planning to buy EUR/GBP, then keep a close watch on the highlighted support zone on the daily chart.
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The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
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Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
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* The essential role local talent plays in providing a culturally relevant and compliant user experience.
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➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
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Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
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