EUR/USD, GBP/USD resume their ascents as EUR/GBP is trying to stabilize
EUR/USD, GBP/USD resume their ascents as EUR/GBP is trying to stabilize ahead of eurozone and US PCE inflation data out on Friday.
EUR/USD rally takes a breather
EUR/USD took a minor hit on Wednesday but as long as it stays above last Thursday's low at $1.1098, it remains on track to reach its July 2023 peak at $1.1275.
Below $1.1098, the $1.1047-40 area may offer potential support.
EUR/GBP tries to find support
EUR/GBP's slip through the 55-day simple moving average (SMA) at £0.8469, now resistance, means that the cross is engaged in a downtrend with the June-to-July lows at £0.8398-to-£0.8378 being back in focus.
Short-term it may try to stabilize above Wednesday's £0.8411 low.
GBP/USD remains bid
GBP/USD is still focused on the $1.3273-99 February 2022 low and March 2022 high with the July 2023 peak at $1.3143 acting as potential support.
Further minor support lies at the $1.3045 July high.
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