# EURGBP Resistance Turned Support (Sep 18, 2017) Source: https://www.tradersway.com/resources/market-info/eurgbp-resistance-turned-support-sep-18-2017/ Language: en Updated: 2017-09-18 Description: Explore EURGBP Resistance Turned Support (Sep 18, 2017). EURGBP. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURGBP sold off sharply from its previous rally to the .9300 region, pulling back to an area of interest around the .8700 to .8800 levels. This lines up with the 50% to 61.8% Fibs, which could hold as potential support. Stochastic is already indicating oversold conditions to show that sellers need to take a break, but the oscillator has to pull higher to signal that buyers are getting back in. The 100 SMA is still above the longer-term 200 SMA on the daily time frame so the path of least resistance is still to the upside. Price is also trading around the 100 SMA dynamic support but a larger pullback to the 200 SMA dynamic inflection point closer to the lowest Fib is possible. The pound got a strong boost from better than expected UK CPI, which then fueled hawkish expectations for the BOE decision. The central bank acknowledged that the economy has been improving and signaled a potential tightening move down the line, with MPC member Vlieghe reiterating those upbeat points on Friday. Meanwhile, the euro was also previously supported by ECB tapering expectations but has been vulnerable to a selloff with some officials expressing concern about currency appreciation. Also, the region’s trade balance turned out weaker than expected on Friday at a surplus of 18.6 billion EUR versus the earlier 21.7 billion EUR and the estimated 20.1 billion EUR figure. ![EURGBP Resistance Turned Support (Sep 18, 2017)] Euro zone final CPI readings are due today, along with the Italian trade balance. As for the UK, the freshly released Rightmove HPI showed a 1.2% decline in house prices, following the earlier 0.9% drop. UK retail sales is due later in the week and analysts are expecting to see a 0.2% uptick. *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-resistance-turned-support-sep-18-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/eurgbp-resistance-turned-support-sep-18-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurgbp-resistance-turned-support-sep-18-2017/", "headline": "EURGBP Resistance Turned Support (Sep 18, 2017)", "inLanguage": "en", "datePublished": "2017-09-18T07:49:48+00:00", "dateModified": "2017-09-18T07:49:48+00:00", "articleSection": "Market Info", "description": "Explore EURGBP Resistance Turned Support (Sep 18, 2017). EURGBP. 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-resistance-turned-support-sep-18-2017/#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 Resistance Turned Support (Sep 18, 2017)", "item": "https://www.tradersway.com/resources/market-info/eurgbp-resistance-turned-support-sep-18-2017/" } ] } ] } ``` ```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" } } ] } ```