Skip to content

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.

​​​EUR/GBP stabilises near 2 ½ year low while EUR/USD, GBP/USD advance​ amid quiet economic calendar.​

​​​EUR/GBP stabilises near 2 ½ year low while EUR/USD, GBP/USD advance​ amid quiet economic calendar.​

EUR Source: Adobe images

​​​EUR/USD resumes its advance

EUR/USD has its $1.1201 August peak in its sights. This will remain in view while Thursday's low at $1.1069 underpins.

​Further up sits the $1.1275 July 2023 peak.

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

​EUR/GBP bounces off 2 1/2 year low

EUR/GBP's drop has taken it a near 2 1/2 year low at £0.8318, to just above the 21 March 2022 low at £0.8296 which may still be reached at some stage. Together with the £0.8285 January 2022 low and the £0.8277 December 2019 trough it is expected to act as major support.

Previous support at £0.8378-73, because of inverse polarity, is now expected to act as resistance. 

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

​GBP/USD remains bid

GBP/USD has reached its $1.3412 September 2022 low which may act as at least short-term resistance. If not, the $1.3515 December 2019 peak would be next in line.

Support can be found at the $1.3267 August high.

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

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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

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

Prices above are subject to our website terms and agreements. Prices are indicative only

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.