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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

​​​EUR/GBP stabilises near 2 ½ year low while EUR/USD, GBP/USD advance​ amid quiet economic calendar.​

​​​EUR/GBP stabilises near 2 ½ year low while EUR/USD, GBP/USD advance​ amid quiet economic calendar.​

EUR Source: Adobe images

​​​EUR/USD resumes its advance

EUR/USD has its $1.1201 August peak in its sights. This will remain in view while Thursday's low at $1.1069 underpins.

​Further up sits the $1.1275 July 2023 peak.

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

​EUR/GBP bounces off 2 1/2 year low

EUR/GBP's drop has taken it a near 2 1/2 year low at £0.8318, to just above the 21 March 2022 low at £0.8296 which may still be reached at some stage. Together with the £0.8285 January 2022 low and the £0.8277 December 2019 trough it is expected to act as major support.

Previous support at £0.8378-73, because of inverse polarity, is now expected to act as resistance. 

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

​GBP/USD remains bid

GBP/USD has reached its $1.3412 September 2022 low which may act as at least short-term resistance. If not, the $1.3515 December 2019 peak would be next in line.

Support can be found at the $1.3267 August high.

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

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