EUR/USD and GBP/USD see some small gains, but upside still limited
The euro and sterling have made some headway against the dollar, but overall a cautious view still prevails.
EUR/USD ticks higher
Some small gains for EUR/USD over the past 24 hours have lifted the pair off recent lows, but now the $1.134 area comes into view as a potential source of resistance.
This is where gains have stalled over the last month. If this remains unbroken then the range continues to hold, frustrating both sides.
GBP/USD clings to $1.32
GBP/USD continues to bounce along near $1.32, but with rising stochastics a more bullish view might yet prevail. In any case, the continued defence of $1.32 does at least hold the bearish view relatively in check.
However, buyers need to be careful since, as we saw last week, there is plenty of selling pressure should a bounce develop.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.