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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 71% 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 resume their ascents post strong US employment report

EUR/USD, EUR/GBP and GBP/USD resume their ascents post strong US employment report and pared back rate cut expectations.

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

EUR/USD rises post NFP

The EUR/USD rally off the $1.0724-23 December and early-February lows has taken it to Thursday's $1.0876 high before giving back some of its recent gains around Friday's Non-Farm Payrolls.

The $1.0876 high was made marginally below the February highs at $1.0888 to $1.0897 which remain in focus. Potential slips should find support above or near the $1.0796-91 area.

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

EUR/GBP continues to rise

EUR/GBP is still gradually rising from its £0.8531 low and has the 200-day simple moving average (SMA) at £0.8605 in its sights.

A fall through the £0.8531 low would have bearish implications, though, and put the £0.8499 February low back on the cards.

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

GBP/USD looks bid

GBP/USD once more targets the 55-day SMA at $1.2668, having levelled out around the 200-day SMA on Friday. Above Thursday's high at $1.2684 lies the 22 February high at $1.271.

Minor support can be spotted at Friday's low at $1.2574.

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. 71% 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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