EUR/USD, GBP/USD resume their descents while EUR/GBP range trades
EUR/USD, GBP/USD resume their descents while EUR/GBP range trades as US dollar regains lost ground.
EUR/USD resumes descent
EUR/USD's failure to break through its $1.0453-to-$1.0472 resistance zone points to a resumption of its downtrend.
Support between the $1.0344 mid-December low and the November low at $1.0333 is being revisited. Were it to give way, the 2-year low at $1.0225 would be back in the frame.
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EUR/GBP range trades
EUR/GBP continues to sideways trade in a tight range below minor resistance at the £0.8328 December high but above last week's low at £0.8263. Together with the 11 November low at £0.8260 it should create support. Further, more significant, support can be spotted at £0.8226-to-£0.8223.
Minor resistance above the 55-day simple moving average (SMA) at £0.8309 is seen along the downtrend line at £0.8313.
GBP/USD resumes its descent
GBP/USD seems to be heading back down towards its $1.2353 early January 8-month low, having been rejected by the September-to-January downtrend.
Minor support at the $1.2475 level is likely to soon give way.
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