Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, GBP/USD in process of topping out while EUR/GBP stabilizes?

EUR/USD, GBP/USD could be in process of topping out after US non-farm payrolls as EUR/GBP sees a minor bounce.

Video poster image

EUR/USD looks top heavy

EUR/USD looks top heavy after US non-farm payrolls and probes its August-to-September support line at $1.1070. If slipped through, the early September low at $1.1027 and the August 5 high at $1.1009 will be in focus, provide that Friday's high at 1.1155 isn't overcome.

We neutralized our medium-term forecast and now have a short-term bearish outlook.

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

EUR/GBP bounces back

EUR/GBP continues to recover off the June-to-July lows at £0.8398-to-£0.8378, targeting minor resistance along the 55-day simple moving average (SMA) at £0.8466.

Were Friday's low at £0.8412 to be fallen through, however, the 2 August 2022 low at £0.8240 would be eyed.

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

GBP/USD slips

GBP/USD Friday bearish engulfing pattern on the daily candlestick chart points to a top possibly soon being formed which is why we have neutralized our medium-term forecast while Friday's high at $1.3239 caps.

Last week's low at $1.3088 is in view, a fall through which would eye the $1.3045 July high.

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

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

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.