EUR/GBP, EUR/USD rally while GBP/USD slips
EUR/GBP, EUR/USD rally while GBP/USD slips ahead of BoE rate decision on Thursday.
EUR/USD sees minor recovery
EUR/USD levelled out at $1.0454 on Friday, marginally below the early December low at $1.0461, and now has the $1.055 region in its sights.
Below $1.0454 lies the November $1.0333 low.
EUR/USD daily chart
EUR/GBP surges higher
Last week's EUR/GBP fall to £0.8226, close to the March 2022 low at £0.8204, has been followed by a sharp rally towards the 55-day simple moving average (SMA) at £0.8330. Above it beckons the August to December resistance line at £0.8352.
Minor support sits in the £0.8301 to £0.8296 support zone and further minor support in the £0.8271 to £0.8260 region.
EUR/GBP daily chart
GBP/USD under pressure
Last week GBP/USD was rejected by the September to December resistance line and is thus still seen heading back down towards Monday's $1.2617 low. Below it lies the mid-November $1.2597 low.
The 20 and 29 November highs at $1.2715 to $1.275 continue to represent a resistance zone. Further up meanders the 200-day SMA at $1.2817.
GBP/USD daily chart
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