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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that 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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