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 two-year low of $1.0178 has encountered minor resistance between the $1.0333 - $1.0344 range, which were the lows in November and mid-December, as expected.
If exceeded, the next higher resistance zone might reach $1.0436 - $1.0460.
Minor support can still be seen around the early January low of $1.0225.
EUR/USD daily chart
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 high of £0.8462 would set its sights on the £0.8600 region.
Support lies at the 9 January high of £0.8406 and further down between the mid-October and mid-to-late November highs of £0.8380 - £0.8364.\
EUR/GBP daily chart
GBP/USD sideways trades above 13-month low
GBP/USD continues to range trade above its 15-month low of $1.2100 while remaining below Wednesday's high of $1.2307. Above it lies the early January low at $1.2353.
A fall through the $1.2100 mark would target the October 2023 low of $1.2038, as well as the psychological $1.2000 mark.
GBP/USD daily chart
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
