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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/USD, EUR/GBP and GBP/USD return from quiet Thanksgiving trading​​​

​​​EUR/USD, EUR/GBP and GBP/USD little changed after quiet Thanksgiving trading and now look forward to Friday’s Non-Farm Payrolls.​​

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

​​​EUR/USD recovers further still

EUR/USD continues to sideways trade in a tight range above its November $1.0333 low whilst staying below its 20 November $1.061 high. While it caps, the medium-term downtrend remains intact.

​Minor support sits at the mid-November $1.0497 low.

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

​EUR/GBP slips

EUR/GBP slides towards its 22 November £0.8269 low. Below it lies the November trough at £0.826, a level last traded in April 2022.

​The 55-day simple moving average (SMA) at £0.8345 continues to act as minor resistance. A rise above it would target last week's high at £0.8375 as well as the late August low at £0.84.

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

​GBP/USD recovery loses momentum

GBP/USD's recovery from its November six-month low at $1.2488 has so far taken it to $1.275. Further up meanders the 200-day SMA at $1.2818.

​Support can be spotted at the mid-November $1.2597 low.

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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