EUR/USD, EUR/GBP and GBP/USD remain under pressure ahead of Fed rate decision
EUR/USD, EUR/GBP and GBP/USD remain under pressure ahead of Fed rate decision despite expectations of keeping rates on hold.
EUR/USD remains under pressure
EUR/USD topped out at Monday's $1.0533 high, with Thursday's low at $1.0372 remaining in sight.
Were the $1.0533 high to be overcome on a daily chart closing basis, our medium-term outlook would become bullish.
EUR/USD daily chart
EUR/GBP drops further still
EUR/GBP slides further from last week's £0.8473 high, made marginally below the 24 June 2024 £0.8478 high, towards the 26 November high at £0.8364.
Resistance is still seen along the 200-day simple moving average (SMA) at £0.8415.
EUR/GBP daily chart
GBP/USD slips
GBP/USD hovers above its upper downtrend channel line at $1.2388. It may now, because of inverse polarity, act as support.
The 55-day SMA at $1.2526 is seen as potential resistance.
A rise above the 7 January high at $1.2576 would make us change our medium-term outlook to a bullish one.
GBP/USD daily chart
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