EUR/GBP rallies while EUR/USD, GBP/USD drop further amid greenback strength
EUR/GBP rallies while EUR/USD, GBP/USD drop further on greenback strength amid escalating tensions in the Middle East.
EUR/USD slips further
EUR/USD further comes off its $1.1201-to-$1.1214 August and September highs on flight-to-quality flows into the US dollar amid heightened tensions in the Middle East.
Minor support below the 55-day simple moving average (SMA) at $1.1027 sits at the $1.1002 September trough. A fall through this level would form a medium-term top. Minor resistance can now be seen at the 19 September low at $1.1069.
GBP/USD tumbles further
GBP/USD has nearly given back 2% from its $1.3434 September peak while falling towards the 19 September low at $1.3154. Further down meanders the 55-day SMA and lie the July high and September low at $1.3045-to-$1.3002.
Minor resistance can now be found between the 23 September and 1 October lows at $1.3237-to-$1.3249.
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
