Skip to content

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/USD, EUR/GBP and GBP/USD expected little changed during Columbus Day

EUR/USD, EUR/GBP and GBP/USD expected little changed during Columbus Day as Japan, Canada and US are shut.

USD Source: Adobe images
USD Source: Adobe images

​​EUR/USD remains under pressure

EUR/USD continues to slide towards last week's $1.0900 low, below which lie the 8 August low at $1.0882 and the 200-day simple moving average (SMA) at $1.0874.

Minor resistance is still seen at the 4 October $1.0952 low and also at the 8 October $1.0997 high.

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

EUR/GBP slips

EUR/GBP remains under pressure and dips towards last week's low at £0.8355. Below this level sits the £0.8322-to-£0.8311 support zone.

Minor resistance is seen along the August-to-October tentative downtrend line at $0.8400.

EUR/GBP chart Source: TradingView.com

GBP/USD still has bearish bias

GBP/USD continues to trade below the 55-day SMA at $1.3077 which still acts as resistance. Were last week's low at $1.3022 to give way, the September low at $1.3002 would be in sight. This support level with the $1.3000 mark is key for the medium-term trend as a fall through it could lead to the 200-day SMA at $1.2789 being targeted.

While the $1.3000 mark underpins, the medium-term uptrend remains intact though. Minor resistance above the 55-day SMA can be found at the early September high at $1.3239.

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

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

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.