EUR/USD, EUR/GBP rise while GBP/USD recovery stalls
EUR/USD, EUR/GBP rise while GBP/USD recovery stalls as UK unemployment falls to 4.2%.
![GBP](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/Adobe_GBP_07-11-2024.jpg/jcr:content/renditions/original-size.webp)
![EUR/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/08/14/EURUSD_2024-08-14_06-17-22.png/jcr:content/renditions/original-size.webp)
EUR/GBP recovers from Tuesday's low
EUR/GBP descent to Tuesday's £0.8531 low is being followed up by a recovery rally with the £0.8575-79 region being eyed. Key resistance remains to be seen between the April-to-August peaks at £0.8624-to-£0.8644.
Immediate upside pressure should remain in play while Tuesday's low at £0.8531 underpins. The 200-day simple moving average (SMA) at £0.8553 should offer support on Wednesday.
![EUR/GBP chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/08/14/EURGBP_2024-08-14_06-18-11.png/jcr:content/renditions/original-size.webp)
GBP/USD recovery stalls
GBP/USD recovery off its $1.2665 early August low is short-term fizzling out at Tuesday's $1.2873 high and may revisit the 55-day SMA at $1.2785.
Above $1.2873 lies the $1.2888-to-$1.2938 resistance area, made up of the late July highs.
![GBP/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/08/14/GBPUSD_2024-08-14_06-25-37.png/jcr:content/renditions/original-size.webp)
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
![](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/Rebrand/Article_banners/Forex-global-component-banner.jpg/jcr:content/renditions/original-size.webp)
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.