EUR/USD, GBP/USD drop as USD/JPY rallies following anticipated Trump win
EUR/USD, GBP/USD slide, USD/JPY rallies as financial markets expect Trump to win.
EUR/USD drops nearly 2% before stabilising
An anticipated Donald Trump US presidential election victory provoked strong gains in the US dollar with EUR/USD bearing the brunt.
The swift fall through the $1.0778-to-$1.0761 support area, now because of inverse polarity a resistance zone, is bearish for the cross with the June lows at $1.0671-to-$1.0666 being eyed.
GBP/USD rejected by resistance
GBP/USD drops like a stone towards its late October low at $1.2844 as Donald Trump is expected to win the 2024 US presidential election. A fall through $1.2844 puts the 200-day simple moving average (SMA) at $1.2813 on the map, below which lies the August low at $1.2665.
Minor resistance can be spotted at the 23 October low at $1.2908.
USD/JPY bullish
USD/JPY is gunning for the ¥154.56 early June high and the ¥155.21 late July high, having sharply risen from support seen along the 200-day SMA at ¥151.54.
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