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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 expected little changed during Columbus Day

EUR/USD, EUR/GBP and GBP/USD expected little changed during Columbus Day as Japan, Canada and US are shut.

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Forex Shares Euro EUR/USD GBP/USD EUR/GBP
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​EUR/USD remains under pressure

EUR/USD continues to slide towards last week's $1.0900 low, below which lie the 8 August low at $1.0882 and the 200-day simple moving average (SMA) at $1.0874.

Minor resistance is still seen at the 4 October $1.0952 low and also at the 8 October $1.0997 high.

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

EUR/GBP slips

EUR/GBP remains under pressure and dips towards last week's low at £0.8355. Below this level sits the £0.8322-to-£0.8311 support zone.

Minor resistance is seen along the August-to-October tentative downtrend line at $0.8400.

EUR/GBP chart Source: TradingView.com

GBP/USD still has bearish bias

GBP/USD continues to trade below the 55-day SMA at $1.3077 which still acts as resistance. Were last week's low at $1.3022 to give way, the September low at $1.3002 would be in sight. This support level with the $1.3000 mark is key for the medium-term trend as a fall through it could lead to the 200-day SMA at $1.2789 being targeted.

While the $1.3000 mark underpins, the medium-term uptrend remains intact though. Minor resistance above the 55-day SMA can be found at the early September high at $1.3239.

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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