EUR/USD, EUR/GBP rise while GBP/USD recovery stalls
EUR/USD, EUR/GBP rise while GBP/USD recovery stalls as UK unemployment falls to 4.2%.
![GBP](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/Adobe_GBP_07-11-2024.jpg/jcr:content/renditions/original-size.webp)
![EUR/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/08/14/EURUSD_2024-08-14_06-17-22.png/jcr:content/renditions/original-size.webp)
EUR/GBP recovers from Tuesday's low
EUR/GBP descent to Tuesday's £0.8531 low is being followed up by a recovery rally with the £0.8575-79 region being eyed. Key resistance remains to be seen between the April-to-August peaks at £0.8624-to-£0.8644.
Immediate upside pressure should remain in play while Tuesday's low at £0.8531 underpins. The 200-day simple moving average (SMA) at £0.8553 should offer support on Wednesday.
![EUR/GBP chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/08/14/EURGBP_2024-08-14_06-18-11.png/jcr:content/renditions/original-size.webp)
GBP/USD recovery stalls
GBP/USD recovery off its $1.2665 early August low is short-term fizzling out at Tuesday's $1.2873 high and may revisit the 55-day SMA at $1.2785.
Above $1.2873 lies the $1.2888-to-$1.2938 resistance area, made up of the late July highs.
![GBP/USD chart](http://a.c-dn.net/c/content/dam/igcom-websites/en_GB/charts/2024/08/14/GBPUSD_2024-08-14_06-25-37.png/jcr:content/renditions/original-size.webp)
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