EUR/GBP, GBP/USD and EUR/USD little changed following Labour landslide
EUR/GBP, GBP/USD and EUR/USD are slightly bid following the ousting of the UK Conservative party by Labour.
EUR/GBP recovers
EUR/GBP is drawn back to the key £0.8484 to £0.8503 resistance zone, a break through which would target the 55-day SMA at £0.8515.
Potential slips may found support along the support line at £0.8446 and at Wednesday's £0.8459 low ahead of the late June lows at £0.8431-30.
GBP/USD rises further still
GBP/USD's rally from Tuesday's $1.2616 low has the May high at $1.2801 in its sights.
Minor support below the 19 June high at $1.274 lies at the 1 July $1.271 high.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
