EUR/USD drops to over 2-year low while GBP/USD slides to 9-month low
EUR/USD drops to over 2-year low while GBP/USD slides to 9-month low amid positive US outlook and appreciating US dollar.
EUR/USD drops to over 2-year low
EUR/USD continues its descent and now flirts with the late November 2022 low at $1.0223. Below it lies the September 2022 high at $1.0197 which may offer interim support on the way down towards parity.
The previous key support area at the $1.0333 to $1.0344 November and December lows should now, because of inverse polarity, act as resistance.
EUR/USD daily chart
GBP/USD falls to 9-month low
GBP/USD's fall through its eight-month $1.2475 December low has taken it to a nine-month low at $1.2353 whilst targeting the April 2024 low at $1.2300 around which it may find some support.
Good resistance sits between the November and mid-December lows at $1.2475 to $1.2488.
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.
