EUR/USD, EUR/GBP and GBP/USD trade in low volatility ranges
EUR/USD, EUR/GBP and GBP/USD trade in low volatility ranges amid minor economic releases.
EUR/USD sideways trades
EUR/USD's recovery from its over 2-year $1.0178 low has hit minor resistance between the $1.0333-to-$1.0344 November and mid-December lows which so far capped as expected.
If exceeded, the next higher resistance zone at $1.0436-to-$1.0460 might be reached.
Minor support can still be seen around the $1.0225 early January low.
EUR/GBP advances further
EUR/GBP continues to oscillate around the 200-day simple moving average (SMA) at £0.8421.
An advance above Tuesday's £0.8462 high would have the £0.8600 region in its sights.
Support lies at the 9 January high at £0.8406 and further down between the mid-October, mid-to-late November highs at £0.8380-to-£0.8364.
GBP/USD sideways trades above 13-month low
GBP/USD continues to range trade above its 15-month $1.2100 low whilst remaining below Wednesday's $1.2307 high. Above it lies the early January low at $1.2353.
A fall through the $1.2100 mark would target the October 2023 low at $1.2038, as well as the psychological $1.2000 mark.
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
