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, GBP/USD recover while EUR/GBP slips ahead of UK election

​​​​EUR/USD, GBP/USD recover while EUR/GBP slips ahead of Thursday’s UK election. ​​

US Dollar Source: Getty Images

​​​EUR/USD again looks bid

EUR/USD is once again trying to reach its 55-day simple moving average (SMA) at $1.0768 and last week's high at $1.0776. Above Monday's high at $1.0776 meanders the 200-day SMA at $1.0792.

​​Support sits at Monday's $1.071 low. While the June lows at $1.0671 to $1.0666 hold, medium-term upside pressure should be maintained.

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

​EUR/GBP comes off resistance

EUR/GBP has been rejected by the key £0.8484-to-£0.8503 resistance zone, a rise above which would eye the 55-day SMA at £0.8519, though.

​Potential slips may found support along the support line at £0.8456 ahead of the recent lows at £0.8431-30.

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

​GBP/USD stabilizes

GBP/USD found support slightly above last week's $1.2613 low before recovering and targeting the $1.2703 and $1.2710 minor resistance zone. The 55-day SMA at $1.2638 should now offer short-term support.

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