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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

​​​EUR/USD, EUR/GBP rise while GBP/USD recovery stalls​​​

​​​EUR/USD, EUR/GBP rise while GBP/USD recovery stalls​ as UK unemployment falls to 4.2%.​

GBP Source: Adobe images

​​​EUR/USD surges ahead

EUR/USD flirts with the $1.10 mark - which so far caps - and tries to reach its $1.1009 early August peak. Above it sits the $1.1017 late November high and the 22 December peak at $1.104.

​Minor support can be found at the 8 March high at $1.0981.

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

​EUR/GBP recovers from Tuesday's low

EUR/GBP descent to Tuesday's £0.8531 low is being followed up by a recovery rally with the £0.8575-79 region being eyed. Key resistance remains to be seen between the April-to-August peaks at £0.8624-to-£0.8644. 

Immediate upside pressure should remain in play while Tuesday's low at £0.8531 underpins. The 200-day simple moving average (SMA) at £0.8553 should offer support on Wednesday.

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

​GBP/USD recovery stalls

GBP/USD recovery off its $1.2665 early August low is short-term fizzling out at Tuesday's $1.2873 high and may revisit the 55-day SMA at $1.2785.

​Above $1.2873 lies the $1.2888-to-$1.2938 resistance area, made up of the late July highs.

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

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