CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

EUR/USD, GBP/USD and EUR/GBP turning lower after recent gains

EUR/USD, GBP/USD and EUR/GBP turn lower, but will this mark the beginning of a bearish phase following recent gains?

​EUR/USD falls into key support after respecting notable resistance level

EUR/USD has started to weaken after its recent rally took the pair into the late-July peak of $1.1908. With the price falling back into the confluence of trendline support and the $1.1866 swing-low, there is a good chance we could start to see a wider pullback from here if the price breaks support.

As such, keep an eye out for whether we see a move below this current area of support to guide us on whether we will see this recent pullback extend further. To the upside, a break through $1.1908 would bring greater confidence of a bullish continuation.

GBP/USD drifts lower from key resistance

GBP/USD has similarly turned lower from a notable resistance level, with the $1.3888 peak from mid-August holding to send the pair lower this morning.

However, the intraday trend of higher lows does remain in play, meaning that it makes sense to await a break through either $1.3888 (bullish), or $1.3818 (bearish) for guidance on where we go from here.

EUR/GBP starts to roll over after recent rebound

EUR/GBP dropped below trendline support on Friday, following a rally into the deep Fibonacci zone.

The wider bearish trend looks like it could kick in once again, with a move below the likes of $0.8558 and $0.8542 bringing greater confidence of that breakdown.


This information has been prepared by IG, a trading name of IG Markets 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.

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
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

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.