EUR/USD, EUR/GBP rise while GBP/USD recovery stalls
EUR/USD, EUR/GBP rise while GBP/USD recovery stalls as UK unemployment falls to 4.2%.
EUR/GBP recovers from Tuesday's low
EUR/GBP descent to Tuesday's £0.8531 low is being followed up by a recovery rally with the £0.8575-79 region being eyed. Key resistance remains to be seen between the April-to-August peaks at £0.8624-to-£0.8644.
Immediate upside pressure should remain in play while Tuesday's low at £0.8531 underpins. The 200-day simple moving average (SMA) at £0.8553 should offer support on Wednesday.
GBP/USD recovery stalls
GBP/USD recovery off its $1.2665 early August low is short-term fizzling out at Tuesday's $1.2873 high and may revisit the 55-day SMA at $1.2785.
Above $1.2873 lies the $1.2888-to-$1.2938 resistance area, made up of the late July highs.
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