EUR/USD, GBP/USD recover while EUR/GBP slips ahead of UK election
EUR/USD, GBP/USD recover while EUR/GBP slips ahead of Thursday’s UK election.
EUR/USD again looks bid
EUR/USD is once again trying to reach its 55-day simple moving average (SMA) at $1.0768 and last week's high at $1.0776. Above Monday's high at $1.0776 meanders the 200-day SMA at $1.0792.
Support sits at Monday's $1.071 low. While the June lows at $1.0671 to $1.0666 hold, medium-term upside pressure should be maintained.
EUR/GBP comes off resistance
EUR/GBP has been rejected by the key £0.8484-to-£0.8503 resistance zone, a rise above which would eye the 55-day SMA at £0.8519, though.
Potential slips may found support along the support line at £0.8456 ahead of the recent lows at £0.8431-30.
GBP/USD stabilizes
GBP/USD found support slightly above last week's $1.2613 low before recovering and targeting the $1.2703 and $1.2710 minor resistance zone. The 55-day SMA at $1.2638 should now offer short-term support.
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