EUR/USD, EUR/GBP and GBP/USD stall after week of gains
EUR/USD, EUR/GBP and GBP/USD stall as greenback appreciates post US Q2 growth confirmation of 3%.
EUR/USD advance stalls
EUR/USD remains side-lined below its $1.1201-to-$1.1214 August and current September highs.
A rise above Wednesday's high at $1.1214 would put the July 2023 peak at $1.1275 on the cards.
Support sits between Monday's low at $1.1084 and the August-to-September tentative uptrend line at $1.109.
EUR/GBP range trades
EUR/GBP still hovers above its near 2 1/2 year low at £0.8318, made marginally above its 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 low it represents significant support.
Previous support at £0.8378-73, because of inverse polarity, should acts as resistance.
GBP/USD rise stalls
GBP/USD remains side-lined around its $1.3412 September 2022 low around which it ran out of steam, as expected.
Were it to be overcome, the $1.3515 December 2019 peak would be eyed next, though.
Support remains to be seen at the $1.3267 August hig
This information has been prepared by IG, a trading name of IG Markets Limited. 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