EUR/USD, EUR/GBP and GBP/USD side-lined ahead of US employment data
EUR/USD, EUR/GBP and GBP/USD side-lined ahead of US non-farm payrolls.
EUR/USD side-lined
EUR/USD's rise from Monday's $1.0210 low has temporarily run out of steam around the 55-day simple moving average (SMA) at $1.0416 with the major $1.0461-to-$1.0534 resistance area capping the advance for now.
Support is still seen at the November-to-December lows at $1.0344-to-$1.0333.
EUR/GBP range trades
EUR/GBP continues to hover above the mid-October and Monday's £0.8296-to-£0.8292 lows.
Below £0.8292 lies the late December low at £0.8264.
Minor resistance has risen above the 55-day SMA at £0.8328 as anticipated and tries to revisit Thursday's high at £0.8378.
Support above the 55-day SMA can be spotted between the mid-to-late December highs at £0.8332-to-£0.8327.
GBP/USD capped
GBP/USD's recovery from Monday's $1.2250 low has taken it above the upper downtrend channel line at $1.2429 which once more acts as support.
Above the 55-day SMA at $1.2502 still beckons the late January high at $1.2524 and Wednesday's peak at $1.2550 which may act as minor resistance, though.
Potential slips may find support around the $1.2353 early January low and at the $1.2307 mid-January high ahead of Monday's low at $1.2250.
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
