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​​EUR/USD, GBP/USD remain bid while EUR/GBP stays under pressure​​​

​​​EUR/USD, GBP/USD remain bid while EUR/GBP stays under pressure​ as the greenback depreciates further in one-year lows.​

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City Motion Forex United States dollar EUR/USD Pound sterling GBP/USD
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/USD remains bid

EUR/USD remains on track to reach its July 2023 peak at $1.1275.

​Going forward, the $1.1047-40 area may offer potential support.

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

​GBP/USD pushes higher still

GBP/USD is now trading above its July 2023 peak at $1.3143 whilst having the $1.3273-99 February 2022 low and March 2022 high in its sights.

​The July 2023 high at $1.3143 may now act as support ahead of the $1.3045 July high.

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

​EUR/GBP might soon find support

EUR/GBP continues to trade around the 55-day simple moving average (SMA) at £0.847, around which it may still find support.

​Minor resistance is now seen at the 19 August £0.8509 low ahead of the 200-day SMA at £0.8542.

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

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