Skip to content

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/USD surges to 4-month high, GBP/USD to 1-year high while EUR/JPY slumps

​​EUR/USD surges to 4-month high, GBP/USD to 1-year high while EUR/JPY slumps ahead of Thursday’s ECB meeting.

Euro Source: Adobe images

​​​EUR/USD trades in 4-month highs

EUR/USD's rise above the June peak at $1.0916 has the $1.10 region in its sights ahead of Thursday’s European Central Bank (ECB) meeting.

​Support can now be found around the June peak at $1.0916 and further down at the 8 July high at $1.0842.

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

GBP/USD trades in 1-year highs

GBP/USD has overcome $1.30 and so far trades in 1-year highs at $1.3045. Further up beckons the 18 July 2023 peak at $1.3126.

​Minor support is seen at the $1.2996 27 July 2023 high and further minor support at the $1.2894 8 March high.

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

​EUR/JPY drops

EUR/JPY slips further from its ¥175.42 multi-decade high and so far dropped to the ¥170.00 mark which offers at least short-term support. 

Minor resistance can now be seen at the 12 July low at ¥171.47, ahead of the 16 July high at ¥172.92.

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

The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

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.