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 resume their ascents post strong US employment report

EUR/USD, EUR/GBP and GBP/USD resume their ascents post strong US employment report and pared back rate cut expectations.

GBP Source: Bloomberg

EUR/USD rises post NFP

The EUR/USD rally off the $1.0724-23 December and early-February lows has taken it to Thursday's $1.0876 high before giving back some of its recent gains around Friday's Non-Farm Payrolls.

The $1.0876 high was made marginally below the February highs at $1.0888 to $1.0897 which remain in focus. Potential slips should find support above or near the $1.0796-91 area.

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

EUR/GBP continues to rise

EUR/GBP is still gradually rising from its £0.8531 low and has the 200-day simple moving average (SMA) at £0.8605 in its sights.

A fall through the £0.8531 low would have bearish implications, though, and put the £0.8499 February low back on the cards.

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

GBP/USD looks bid

GBP/USD once more targets the 55-day SMA at $1.2668, having levelled out around the 200-day SMA on Friday. Above Thursday's high at $1.2684 lies the 22 February high at $1.271.

Minor support can be spotted at Friday's low at $1.2574.

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.