AUD/USD, GBP/USD rally while EUR/GBP falls to near 2 ½ year low
AUD/USD, GBP/USD rally as RBA keeps rates unchanged while EUR/GBP falls to near 2 ½ year low on GBP strength.
AUD/USD rises further
AUD/USD practically reached the late December high at $0.6871 around which it faltered on Tuesday morning. Above it lurk the $0.6895-$0.6899 June and July 2023 highs.
Upside pressure should be maintained while Thursday's low at $0.6738 underpins.
EUR/GBP drops to near 2 1/2 year low
EUR/GBP's fall through its £0.8378-£0.8373 support zone has taken it to levels last traded in April 2022.
The 21 March 2022 low at £0.8296 represents the next downside target, together with the £0.8285 January 2022 low and the £0.8277 December 2019 trough.
Resistance now comes in at £0.8373-£0.8378.
GBP/USD looks bid
GBP/USD has managed to so far briefly overcome its $1.3358 January 2022 low with the $1.3412 September 2022 low being next in line ahead of the $1.3515 December 2019 peak.
Immediate support can be found at the $1.3267 August high.
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