Jump to content

EUR/USD stabilizes while EUR/GBP rallies and GBP/USD tumbles​​​


Recommended Posts

EUR/USD stabilizes while EUR/GBP rallies and GBP/USD tumbles on dovish BoE comments regarding rapidly falling inflation.

USDSource: Getty Images
 

Written by: Axel Rudolph FSTA | Senior Financial Analyst, London
 
Publication date: 

EUR/USD stabilizes

EUR/USD is now range trading between its key $1.069 to $1.0725 resistance zone and last week's $1.0601 low. Below it lies the 78.6% Fibonacci retracement of the October-to-December advance at $1.0596 and further down the late October lows at $1.0522 to $1.0517 as well as the $1.0449 October low. All of these remain medium-term in sight.

EUR/USD chartSource: TradingView.com

EUR/GBP sees sharp rally

EUR/GBP has swiftly risen above the 200-day simple moving average (SMA) at £0.8605 and reached the October low at £0.8617 which acts as resistance. If bettered, the £0.8630-31 mid-September high and late September low will be in focus. Slips to below the 200-day SMA should find support around the March high at £0.8602. Below it lie the 5 to 9 April highs at £0.8586-82.

EUR/GBP chartSource: TradingView.com

GBP/USD tumbles further

GBP/USD resumed its descent and nears the 61.8% Fibonacci retracement of the October-to-March rise at $1.2365. Further down sits the mid-October high at $1.2338. Minor resistance can be spotted at last Tuesday's $1.2406 low.

GBP/USD chartSource: TradingView.com

 

 

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. See full non-independent research disclaimer and quarterly summary.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Bit Starz, a leading online casino known for its extensive selection of slots and table games, is offering an exciting promotion in 2024. By using the promo code “hella”, players can receive a generous 240 free spins, providing ample opportunities to win big on popular slot games. Overview of Bit Starz: Bit Starz is renowned for its wide variety of high-quality casino games, including slots, table games, and live dealer options. The platform is praised for its user-friendly interface, fast withdrawal times, and excellent customer support. Bit Starz accepts multiple currencies, including cryptocurrencies, making it a versatile choice for players worldwide. Promo Code and Bonus: Promo Code: hella Bonus: 240 free spins How to Use the Promo Code: Visit Bit Starz: Open your web browser and go to the Bit Starz website. Sign Up or Log In: If you are a new user, click on the “Sign Up” button to create a new account. You will need to provide your email, create a username, and set a password. If you already have an account, click on the “Log In” button and enter your credentials to access your account. Navigate to the Promotions Section: Once logged in, go to the promotions or bonuses section of your account. Enter the Promo Code: In the promo code field, type “hella” and click on the “Submit” or “Redeem” button. Claim Your Free Spins: After entering the code, you will instantly receive 240 free spins. These spins can be used on selected slot games available on Bit Starz. Benefits of the Promotion: The 240 free spins offer a significant advantage to both new and existing players. Free spins allow players to try out various slot games without risking their own money. This bonus can lead to substantial winnings, enhancing the overall gaming experience. Tips for Maximizing Your Bonus: Explore Different Games: Use your free spins to try different slot games on the platform. This helps in discovering which games you enjoy the most and where you have the best chances of winning. Check Game Contributions: Some games contribute more to wagering requirements than others. Make sure to play games that count significantly towards fulfilling these requirements. Stay Informed: Regularly check the promotions page for additional offers that can further boost your balance or provide extra rewards. By following these steps and using the promo code “hella”, you can maximize your gaming experience on Bit Starz. Enjoy the excitement and potential winnings with this generous 240 free spins bonus in 2024.
    • Unlock $0.15 in free coins on Bandit.camp in 2024 with the promo code “hellagood”. Bandit.camp is a popular gambling platform for CSGO players, offering various betting games and case openings. By using the code “hellagood”, players can start playing without any initial deposit, giving them a chance to explore the platform and potentially win big. How to Claim: Log In or Sign Up: Visit the Bandit.camp website and log in or create a new account. Access Promo Area: Navigate to the promo code section. Enter Code: Use “hellagood” in the designated field. Claim Free Coins: Receive $0.15 in free coins to use on the platform. This promotion is perfect for both new and existing players looking to explore Bandit.camp and enjoy their favorite games with extra funds. Take advantage of this offer to enhance your gaming experience and increase your chances of winning in 2024.
    • Get 30 free coins on CSGOLuck in 2024 by using the promo code “HELLAGOOD”. CSGOLuck is a well-known platform for CSGO betting games and case openings. By using the code “HELLAGOOD”, players can receive 30 free coins to enhance their gaming experience and increase their chances of winning. How to Claim: Sign Up or Log In: Visit the CSGOLuck website and create an account or log in to your existing one. Access Promo Section: Navigate to the promo code area. Input Code: Enter “HELLAGOOD” in the designated field. Claim Free Coins: Receive 30 free coins to use on the platform. This promotion is ideal for both new and existing players looking to maximize their gaming opportunities on CSGOLuck. Take advantage of this exclusive offer to enjoy free coins and enhance your chances of winning big.
×
×
  • Create New...
us