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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/GBP, GBP/USD and EUR/USD little changed following Labour landslide

​​​​EUR/GBP, GBP/USD and EUR/USD are slightly bid following the ousting of the UK Conservative party by Labour.

EUR/USD Source: Adobe Images

​​​EUR/USD continues to rise

EUR/USD is gunning for the $1.0852 mid-June high with the 200-day simple moving average (SMA) at $1.0795 acting as potential support.

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

​EUR/GBP recovers

EUR/GBP is drawn back to the key £0.8484 to £0.8503 resistance zone, a break through which would target the 55-day SMA at £0.8515.

​Potential slips may found support along the support line at £0.8446 and at Wednesday's £0.8459 low ahead of the late June lows at £0.8431-30.

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

​GBP/USD rises further still

GBP/USD's rally from Tuesday's $1.2616 low has the May high at $1.2801 in its sights.

​Minor support below the 19 June high at $1.274 lies at the 1 July $1.271 high.​​

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

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