EUR/USD, EUR/GBP and GBP/USD little changed ahead of UK budget
EUR/USD, EUR/GBP and GBP/USD trade in low volatility ahead of Wednesday’s UK budget at which tax rises and more government borrowing seem to be on the agenda.
EUR/GBP ranges above support
EUR/GBP remains above the £0.8318-to-£0.8296 support area. Were it to be slipped through, the January 2022 and December 2019 lows at £0.8285-77 would be next in line.
Minor resistance comes in at last week's high at £0.8352.
GBP/USD range bound
Last week's GBP/USD bounce off its $1.2908 two-month low was rejected by the $1.30 region. While the area up to the $1.3045 July peak isn't overcome, further downside is likely on the cards.
A slip through $1.2908 would engage the June high at $1.2861.
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