# EURGBP Channel Resistance (Jan 05, 2018) Source: https://www.tradersway.com/resources/market-info/eurgbp-channel-resistance-jan-05-2018/ Language: en Updated: 2018-01-05 Description: Explore EURGBP Channel Resistance (Jan 05, 2018). EURGBP is. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURGBP is trending lower in a shallow descending channel visible on its 4-hour chart. Price is approaching the channel resistance at the .8950 minor psychological level and might be due for a bounce. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. This means that the downtrend is more likely to resume than to reverse or that the top of the channel would probably keep gains in check. However, the gap between the moving averages is narrowing to suggest a potential upward crossover or pickup in bullish momentum. Stochastic is pointing down from the overbought region, though, so sellers could still pick up their pace. In that case, EURGBP could slide back down to support at the .8700 handle. Economic data from the UK turned out stronger than expected as the services PMI rose from 53.8 to 54.2, a notch higher than the 54.1 consensus. Euro zone medium-tier reports also printed a few higher than expected figures as well. German retail sales, French preliminary CPI, and the region’s flash CPI readings are up for release today. Another round of upbeat results could continue to stoke expectations of ECB rate hikes later this year, following their taper plans this month. ![EURGBP Channel Resistance (Jan 05, 2018)] There are no major reports due from the UK for the rest of the day, so pound price action could take its cue from other headlines, such as those related to Brexit. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurgbp-channel-resistance-jan-05-2018/#primary", "url": "https://www.tradersway.com/resources/market-info/eurgbp-channel-resistance-jan-05-2018/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurgbp-channel-resistance-jan-05-2018/", "headline": "EURGBP Channel Resistance (Jan 05, 2018)", "inLanguage": "en", "datePublished": "2018-01-05T07:41:54+00:00", "dateModified": "2018-01-05T07:41:54+00:00", "articleSection": "Market Info", "description": "Explore EURGBP Channel Resistance (Jan 05, 2018). EURGBP is. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurgbp-channel-resistance-jan-05-2018/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURGBP Channel Resistance (Jan 05, 2018)", "item": "https://www.tradersway.com/resources/market-info/eurgbp-channel-resistance-jan-05-2018/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```