EUR/USD, EUR/GBP and GBP/USD side-lined post UK inflation print
EUR/USD, EUR/GBP and GBP/USD side-lined post UK inflation print and as US is shut for Juneteenth holiday.
EUR/USD hovers above support
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.
Resistance can still be found at $1.0774-88 which is likely to cap when first tested.
EUR/GBP loses upside momentum
EUR/GBP bounce off last week's £0.8398 22-month low seems to be running out of steam below the key £0.8484-to-£0.8503 resistance area which is to cap, if reached at all.
Minor support comes in at last Tuesday's £0.8418 low and more important support at £0.8398, below which lies the £0.8389 mid-August 2022 low.
GBP/USD holds above support
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 $1.2617.
Minor resistance can be spotted at the late may $1.2801 high.
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