EUR/USD, GBP/USD in process of topping out while EUR/GBP stabilizes?
EUR/USD, GBP/USD could be in process of topping out after US non-farm payrolls as EUR/GBP sees a minor bounce.
![Video poster image](https://cf-images.eu-west-1.prod.boltdns.net/v1/static/2830693144001/591c5b71-f5a0-41ed-a800-c2eb26ad928e/b7a4b673-6247-4f78-bfa6-bc7e938a8858/1280x720/match/image.jpg)
EUR/USD looks top heavy
EUR/USD looks top heavy after US non-farm payrolls and probes its August-to-September support line at $1.1070. If slipped through, the early September low at $1.1027 and the August 5 high at $1.1009 will be in focus, provide that Friday's high at 1.1155 isn't overcome.
We neutralized our medium-term forecast and now have a short-term bearish outlook.
![EUR/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/09/09/EURUSD_2024-09-09_06-19-34.png/jcr:content/renditions/original-size.webp)
EUR/GBP bounces back
EUR/GBP continues to recover off the June-to-July lows at £0.8398-to-£0.8378, targeting minor resistance along the 55-day simple moving average (SMA) at £0.8466.
Were Friday's low at £0.8412 to be fallen through, however, the 2 August 2022 low at £0.8240 would be eyed.
![EUR/GBP chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/09/09/EURGBP_2024-09-09_06-19-40.png/jcr:content/renditions/original-size.webp)
GBP/USD slips
GBP/USD Friday bearish engulfing pattern on the daily candlestick chart points to a top possibly soon being formed which is why we have neutralized our medium-term forecast while Friday's high at $1.3239 caps.
Last week's low at $1.3088 is in view, a fall through which would eye the $1.3045 July high.
![GBP/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/09/09/GBPUSD_2024-09-09_06-19-50.png/jcr:content/renditions/original-size.webp)
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.
![](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/Rebrand/Article_banners/Forex-global-component-banner.jpg/jcr:content/renditions/original-size.webp)
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.