EUR/USD, EUR/GBP and GBP/USD expected little changed during Columbus Day
EUR/USD, EUR/GBP and GBP/USD expected little changed during Columbus Day as Japan, Canada and US are shut.
EUR/USD remains under pressure
EUR/USD continues to slide towards last week's $1.0900 low, below which lie the 8 August low at $1.0882 and the 200-day simple moving average (SMA) at $1.0874.
Minor resistance is still seen at the 4 October $1.0952 low and also at the 8 October $1.0997 high.
GBP/USD still has bearish bias
GBP/USD continues to trade below the 55-day SMA at $1.3077 which still acts as resistance. Were last week's low at $1.3022 to give way, the September low at $1.3002 would be in sight. This support level with the $1.3000 mark is key for the medium-term trend as a fall through it could lead to the 200-day SMA at $1.2789 being targeted.
While the $1.3000 mark underpins, the medium-term uptrend remains intact though. Minor resistance above the 55-day SMA can be found at the early September high at $1.3239.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market.
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
