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EUR/GBP rallies while EUR/USD, GBP/USD drop further amid greenback strength​

​EUR/GBP rallies while EUR/USD, GBP/USD drop further on greenback strength amid escalating tensions in the Middle East.​

Dollar Source: Adobe images

EUR/USD slips further

EUR/USD further comes off its $1.1201-to-$1.1214 August and September highs on flight-to-quality flows into the US dollar amid heightened tensions in the Middle East.

Minor support below the 55-day simple moving average (SMA) at $1.1027 sits at the $1.1002 September trough. A fall through this level would form a medium-term top. Minor resistance can now be seen at the 19 September low at $1.1069.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​EUR/GBP rallies

EUR/GBP recovers from its near 2 1/2 year £0.8311 low towards the £0.8373-78 resistance zone which may cap on Thursday.

Significant support below £0.8311 sits between the 21 March 2022 low at £0.8296, the £0.8285 January 2022 low and the £0.8277 December 2019 low. 

EUR/GBP chart Source: TradingView.com
EUR/GBP chart Source: TradingView.com

​GBP/USD tumbles further

GBP/USD has nearly given back 2% from its $1.3434 September peak while falling towards the 19 September low at $1.3154. Further down meanders the 55-day SMA and lie the July high and September low at $1.3045-to-$1.3002.

Minor resistance can now be found between the 23 September and 1 October lows at $1.3237-to-$1.3249.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

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