EUR GBP

EURGBP Currency pair flag

Latest EUR GBP Analysis and Forecasts

Elliott Wave Analysis: EUR/GBP In Bearish Reversal

Hello traders,

EURGBP started firmly dropping from the 0.918 level (also level of a Fib. ratio of 61.8), giving us first signs of a possibly completed A-B-C move in a higher degree wave B) correction. We are now observing a minimum three-wave decline in play, so be aware of possible corrections/setbacks within the decline (first one can be seen from the lower corrective channel line). Also, for further confirmation that bears are underway, we would like to see a drop below the lower Elliott wave channel line, and below the 0.886 level.

EURGBP, 4h

4 hour eur gbp chart

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EUR GBP Currency Converter

Other major currency pairs


BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.


EUR/GBP Live and Historical Rates

The EUR/GBP pair – also known as the Chunnel – is yet another pair made up of two major currencies, which does not itself qualify as a major. The Chunnel is obviously massively influenced by the close correlation of the EU and British economies, and that will likely remain the case after Brexit too. The chart above shows how many GBPs one needs to purchase a EUR.  

The EUR

Used by 21 countries and some 324 million people as official currency, the EUR is the common currency of the world’s biggest economy, the Eurozone. While 7 EU members are bound by treaty to join in the future, in the wake of the 2008 global financial crisis, the appetite on the part of these countries to join the Euro club has quite noticeably subsided. Still, the Euro is used de-facto by at least as many people as the population of the Eurozone, and the currency is the second most traded, as well as the second biggest reserve currency of the world.

The GBP

The British Pound is a high-profile currency as well. In addition to being the world’s oldest currency still in use today, it is the 4th most traded one and the third largest reserve currency behind the USD and the EUR. Viewed by many as a symbol and guarantor of British sovereignty, the GBP was only allowed to float in 1971. During its EU membership, Britain refused to surrender its currency and join the Euro and now with the Brexit procedure launched, the future of the GBP seems assured.

EURGBP Analysis

Due to the close economic interdependence between Britain and the EU (a status-quo likely to survive the impending Brexit too), the GBP and the EUR are quite closely aligned. Carry trading isn’t a profitable option on this pair, due to the small interest rate spread between the currencies.

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