EUR/USD resumes its downward trend, resistance for EUR/GBP
Explore EUR/GBP's tight trading range, identifying crucial support and resistance levels, as EUR/USD faces renewed downward pressure.
EUR/USD resumes descent
EUR/USD's failure to break through its $1.0453 to $1.0472 resistance zone points to a resumption of its downtrend.
Support between the $1.0344 mid-December low and the November low at $1.0333 is being revisited. Were it to give way, the two-year low at $1.0225 would be back in the frame.
EUR/USD daily chart
.png/jcr:content/renditions/original-size.webp)
EUR/GBP range trades
EUR/GBP continues to sideways trade in a tight range below minor resistance at the £0.8328 December high but above last week's low at £0.8263. Together with the 11 November low at £0.8260 it should create support. Further, more significant, support can be spotted at £0.8226 to £0.8223.
Minor resistance above the 55-day simple moving average (SMA) at £0.8309 is seen along the downtrend line at £0.8313.
EUR/GBP daily chart
GBP/USD resumes its descent
GBP/USD seems to be heading back down towards its $1.2353 early January eight-month low, having been rejected by the September to January downtrend.
Minor support at the $1.2475 level is likely to soon give way.
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.
