10:10 AM · 24 June 2021

Chart of the day - EURGBP (24.06.2021)

Bank of England is set to announce a monetary policy decision at 12:00 pm BST today. Market does not expect changes to monetary policy settings. Meeting will be somewhat symbolic as it will be the last one attended by the outgoing Chief Economist Haldane. Haldane is currently the most hawkish BoE member and as a Chief Economist he had a significant impact on BoE policy.

Taking a look at EURGBP at H4 interval, we can see that the pair has been trading in a local downward channel recently. However, the pair is approaching a key support resulting from a potential harmonic pattern XABCD. This pattern often heralds upward move. Should EURGBP pull back from the D point (78.6% retracement), the first target for bulls could be the upper limit of the Overbalance structure (red rectangle). On the other hand, should the pair invalidate the XABCD pattern and drop below the 0.8626 handle, downward move may accelerate with 0.8475 being the first potential target.

Source: xStation5

31 July 2026, 6:50 PM

Daily Summary: Wall Street Regains Ground; Another Intervention in the Yen Market❓

31 July 2026, 5:38 PM

Three Markets to Watch Next Week (July 31, 2026)

31 July 2026, 12:34 PM

Market Wrap: European equities at 3-week highs! Apple dips in US premarket!

31 July 2026, 9:12 AM

Chart of the Day: EURUSD after the Fed meeting. The market scales back rate hike expectations

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits