EUR/USD, GBP/USD kick off new year by revisiting key support zones
EUR/USD, GBP/USD begin new year by revisiting key support zones as traders position themselves.
EUR/USD begins year by weighing on support
EUR/USD revisits the $1.0344-to-$1.0333 November and December lows whilst remaining below its early to mid-December lows and late December high at $1.0454-to-$1.0461.
Further minor resistance can be spotted at the mid-December $1.0534 high. Were a fall through the November low at $1.0333 to be seen, the 30 November 2022 low at $1.0223 would be next in line.
GBP/USD starts year by weighing on support
GBP/USD still hovers above its eight-month $1.2475 low with the early-to-mid-December lows and last week’s high at $1.2607-to-$1.2617 acting as technical resistance.
A slide through $1.2475 would target the 9 May low at $1.2446 and the 16 April low at $1.2406 whereas a rise above $1.2617 would likely have the mid-December high at $1.2729 in its sights.
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