EUR/USD, EUR/GBP and GBP/USD bounce off lows amid minor US dollar drop
EUR/USD, EUR/GBP and GBP/USD bounce off lows amid minor US dollar drop due to US Treasury yield pullback following Trump’s Bessent pick.
EUR/USD bounces off $1.0333 low
EUR/USD slid to below our January 2023 low downside target at $1.0423, to $1.0333, before snapping back.
Minor resistance at $1.0497 is currently being tested, above which lies last Wednesday's $1.0610 high. While it caps, the short-term downtrend remains intact.
EUR/USD daily chart
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EUR/GBP bounces off support
EUR/GBP bounced off Friday's £0.8269 low, below which lies the current November trough at £0.8260, a level last traded in April 2022.
The 55-day simple moving average (SMA) at £0.8356 is now back ion focus. Above it lies last week's high at £0.8375 as well as the late August low at £0.8400.
EUR/GBP daily chart
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