EUR/GBP tumbles to critical support, AUD/USD through support while GBP/USD rallies
EUR/GBP tumbles, GBP/USD rallies on higher-than-expected UK inflation print while AUD/USD slips through support.
EUR/GBP drops to key support
EUR/GBP drops like a stone towards its major £0.8503-to-£0.8493 support area from which it may recover once again as it has done since August 2023. Were a daily chart close below £0.8493 to be made, though, the July and August 2022 lows at £0.8409-04 would be targeted.
Minor resistance sits at the £0.8521 mid-April low and above it at the £0.8531 late-April low.
GBP/USD grinds higher
GBP/USD grinds higher in low volatility in two-month highs with the $1.2803 late-March high remaining in sight.
Potential slips may find support around Friday's low at $1.2645.
AUD/USD tries to bounce off support
AUD/USD tries to bounce off its previous key resistance - now because of inverse polarity support zone - at $0.6667 to $0.6644, just as it did last week when it recovered from it. While it holds on a daily chart closing basis, last week's high at $0.6714 remains in sight and, above it, the $0.685 area.
Minor support below $0.6644 is seen at the $0.6629 mid-May high.
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