Likely quiet day for EUR/USD, EUR/GBP and GBP/USD as US shut for Labor Day
Likely quiet day ahead for EUR/USD, EUR/GBP and GBP/USD as US is shut for Labor Day and no US data is being released.
EUR/USD dips further still
EUR/USD's fall through Thursday's low at $1.1098 neutralized our short-term outlook.
This level has now become resistance with the $1.1047-40 zone offering potential support on Monday as the US is shut for Labor Day.
EUR/GBP stabilizes
EUR/GBP holds above the June-to-July lows at £0.8398-to-£0.8378 which are expected to once more act as support. If not, the 2 August 2022 low at £0.824 would be next in line.
Minor resistance is seen along the 55-day simple moving average (SMA) at £0.8468.
GBP/USD retraces lower
Last week GBP/USD practically reached our $1.3273-99 target zone, made up of the February 2022 low and March 2022 high, before keeling over.
The July 2023 peak at $1.3143 may now act as potential minor resistance while minor support is seen at the $1.3045 July high.
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