EUR/GBP, EUR/USD rally while GBP/USD slips
EUR/GBP, EUR/USD rally while GBP/USD slips ahead of BoE rate decision on Thursday.
EUR/USD sees minor recovery
EUR/USD levelled out at $1.0454 on Friday, marginally below the early December low at $1.0461, and now has the $1.055 region in its sights.
Below $1.0454 lies the November $1.0333 low.
EUR/USD daily chart
EUR/GBP surges higher
Last week's EUR/GBP fall to £0.8226, close to the March 2022 low at £0.8204, has been followed by a sharp rally towards the 55-day simple moving average (SMA) at £0.8330. Above it beckons the August to December resistance line at £0.8352.
Minor support sits in the £0.8301 to £0.8296 support zone and further minor support in the £0.8271 to £0.8260 region.
EUR/GBP daily chart
GBP/USD under pressure
Last week GBP/USD was rejected by the September to December resistance line and is thus still seen heading back down towards Monday's $1.2617 low. Below it lies the mid-November $1.2597 low.
The 20 and 29 November highs at $1.2715 to $1.275 continue to represent a resistance zone. Further up meanders the 200-day SMA at $1.2817.
GBP/USD daily chart
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.
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.
