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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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​​EUR/GBP falls to near 1-month low while EUR/USD and GBP/USD rally

​​EUR/GBP falls to near 1-month low while EUR/USD and GBP/USD rally ahead of UK May GDP and June US CPI data releases.

Dollar Source: Adobe images
Forex United States dollar Pound sterling EUR/USD GBP/USD EUR/GBP
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/USD resumes its ascent

EUR/USD still has the $1.0852 mid-June high in its sights ahead of Thursday’s US consumer price index (CPI) print. It should do so as long as the 200-day simple moving average (SMA) at $1.0802 underpins.

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

​EUR/GBP falls to near 1-month lows

EUR/GBP is in the process of slipping through the late June lows at £0.8431-30, towards the June trough at £0.8398 as investors await the UK May gross domestic product (GDP) reading.

​Minor resistance now sits at the 3 July low at £0.8459.

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

​GBP/USD regains upside momentum

GBP/USD has reached the 12 June high at $1.2861, a rise above which would open the way for the 8 March high at $1.2894 to be reached.

​Minor support below the 19 June high at $1.2740 sits at the 1 July $1.2710 high.

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

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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