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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD, EUR/GBP and GBP/USD bid ahead of US NFPs​​​

​​​EUR/USD, EUR/GBP and GBP/USD bid ahead of US non-farm payrolls ​which are expected to come in at 160k versus a previous 114k.​

Dollar Source: Adobe images

​​​EUR/USD bounces back ahead of US NFPs

EUR/USD looks short-term bid ahead of US non-farm payrolls. The late August $1.1201 high now acts as resistance while Tuesday's low at $1.1027 acts as minor support. Below it lies the August 5 high at $1.1009.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​EUR/GBP trades sideways

EUR/GBP seems to have a slight bullish bias above the June-to-July lows at £0.8398-to-£0.8378. If fallen through, the 2 August 2022 low at £0.8240 would be eyed, though.

​​Minor resistance continues to be seen along the 55-day simple moving average (SMA) at £0.8466.

EUR/GBP chart Source: TradingView.com
EUR/GBP chart Source: TradingView.com

​GBP/USD shows minor bid

GBP/USD recovers further from Tuesday's $1.3088 low, below which lie the July 2023 peak at $1.3143 and the $1.3045 July high.

​​Resistance is seen around the $1.3267-99 February low and March 2022 high. It is also where the late August high was made.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

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.

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