Outlook on EUR/USD, EUR/GBP and GBP/USD amid ECB and MPC member speeches
View on EUR/USD, EUR/GBP and GBP/USD amid ECB and MPC member speeches.
EUR/USD awaits inflation data releases
EUR/USD shot up to $1.0888 on Thursday but then slid back to its 5 February high at $1.0805 above which it is currently trading. While it holds, further range trading between $1.0888 and $1.0805 is probably at hand.
Below the 5 February high at $1.0805 lies the breached uptrend line at $1.075.
EUR/GBP regains recently lost ground
EUR/GBP is trying to regain lost ground from Friday's £0.8529 low and eyes the £0.8557 to £0.8578 key resistance area. As long as it caps, further sideways trading remains in play.
A rise and daily chart close above £0.8578 needs to take place for the 200-day simple moving average (SMA) at £0.8585 to be reached. Support below Monday's £0.8538 low lies between the July-to-August lows at £0.8504 to £0.8493.
GBP/USD loses upside momentum
GBP/USD continues to oscillate around the 55-day SMA at $1.2673, having last week risen to $1.271 before falling back.
The minor $1.271 resistance needs to be overcome for the $1.275 region to be back in view. This scenario will remain valid while the early-February low at $1.2519 holds. The accelerated uptrend line at $1.2646 may offer support on Monday.
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