EUR/USD, EUR/GBP try to hold above last week’s lows while GBP/USD is under pressure
EUR/USD, EUR/GBP hold above last week’s lows as euro selling pressure eases while GBP/USD looks short-term under pressure.
EUR/USD remains under pressure
Last week's sharp decline in EUR/USD neutralized our medium-term outlook. Below last week's low at $1.0668 lies the May low at $1.065.
Minor resistance can now be spotted at Tuesday's $1.072 low.
EUR/GBP bounces off minor support
EUR/GBP is trying to bounce off last week's £0.8398 22-month low towards Thursday's £0.8458 high which is expected to act as minor resistance.
Minor support comes in at Tuesday's £0.8418 low and more important support at £0.8398, below which lies the £0.8389 mid-August 2022 low.
GBP/USD comes further off its $1.2861 high
GBP/USD fall through the $1.2694 to $1.2676 support zone has neutralized our outlook. A fall through Friday's low at $1.2657 would engage the 55-day simple moving average (SMA) at $1.2613.
Minor resistance above the 10 June low at $1.2688 can be spotted at the 9 April $1.02709 high
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