EUR/USD, EUR/GBP and GBP/USD trade in low volatility ranges
EUR/USD, EUR/GBP and GBP/USD trade in low volatility ranges amid minor economic releases.
EUR/USD sideways trades
EUR/USD's recovery from its over 2-year $1.0178 low has hit minor resistance between the $1.0333-to-$1.0344 November and mid-December lows which so far capped as expected.
If exceeded, the next higher resistance zone at $1.0436-to-$1.0460 might be reached.
Minor support can still be seen around the $1.0225 early January low.
EUR/GBP advances further
EUR/GBP continues to oscillate around the 200-day simple moving average (SMA) at £0.8421.
An advance above Tuesday's £0.8462 high would have the £0.8600 region in its sights.
Support lies at the 9 January high at £0.8406 and further down between the mid-October, mid-to-late November highs at £0.8380-to-£0.8364.
GBP/USD sideways trades above 13-month low
GBP/USD continues to range trade above its 15-month $1.2100 low whilst remaining below Wednesday's $1.2307 high. Above it lies the early January low at $1.2353.
A fall through the $1.2100 mark would target the October 2023 low at $1.2038, as well as the psychological $1.2000 mark.
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