EUR/USD and GBP/USD see some small gains, but upside still limited
The euro and sterling have made some headway against the dollar, but overall a cautious view still prevails.
EUR/USD ticks higher
Some small gains for EUR/USD over the past 24 hours have lifted the pair off recent lows, but now the $1.134 area comes into view as a potential source of resistance.
This is where gains have stalled over the last month. If this remains unbroken then the range continues to hold, frustrating both sides.
GBP/USD clings to $1.32
GBP/USD continues to bounce along near $1.32, but with rising stochastics a more bullish view might yet prevail. In any case, the continued defence of $1.32 does at least hold the bearish view relatively in check.
However, buyers need to be careful since, as we saw last week, there is plenty of selling pressure should a bounce develop.
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