Automatic wave scan: as of 5 Nov 2026, the automatic daily count for EUR/GBP is Wave 5 down with a bearish bias. The count stays valid while price holds 0.86119.
Current EUR/GBP wave count
Automatic wave scan Updated daily from the latest daily close (5 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave decline that began at 0.87419 on 30 Mar 2026. Next levels to watch are 0.82755 and 0.82357. The count fails on a daily close above 0.86119.
Key levels
| Type | Levels |
|---|---|
| Resistance | 0.86119 · 0.84680 |
| Support | 0.83149 |
| Invalidation | 0.86119 |
What is EUR/GBP?
EUR/GBP links two closely tied economies. The UK and the euro area trade heavily with each other, so their economic cycles often move together. This keeps the pair in narrower ranges than most other crosses.
The largest moves have come from political shocks, such as the June 2016 Brexit vote, when the euro rose sharply against the pound.
What moves the EUR/GBP price?
- ECB and Bank of England policy: The gap between expected rates drives the trend.
- UK politics: Elections, budgets and EU trade news move the pound.
- Relative growth: Differences in UK and euro area data shift the balance.
- Inflation releases: UK and euro area CPI reports often cause intraday moves.
How EUR/GBP moves in Elliott Wave terms
EUR/GBP is a good example of a market where corrective patterns dominate. Triangles, flats and double threes are common, and many apparent breakouts fail. Impulsive moves usually follow political news.
Because ranges are tight, use smaller Fibonacci targets and do not expect large extensions unless a major event is underway.
Tips for counting EUR/GBP waves
Trade range edges with care and wait for a confirmed five-wave move before betting on a breakout.
EUR/GBP key facts
EUR/GBP Elliott Wave FAQ
Why is EUR/GBP so calm?
The UK and euro area economies are closely linked, so their currencies often move in the same direction against others.
What moves EUR/GBP most?
Political events in the UK and differences in ECB and Bank of England policy.
Is EUR/GBP good for range trading?
It often trades in ranges, but traders should still respect stops because political news can cause sudden breakouts.
Sources and further reading
- BIS Triennial Central Bank Survey of foreign exchange turnover (Bank for International Settlements)
- Monetary policy decisions (European Central Bank)
- Monetary Policy Summary (Bank of England)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
