EUR/USD, GBP/USD try to advance while EUR/GBP drops to support
EUR/USD, GBP/USD try to advance while EUR/GBP drops towards key support.
EUR/USD range bound
EUR/USD range trades below Friday's $1.0629 high. The cross will remain short-term bullish while last week's low at $1.0461 underpins. Below it lies the November $1.0333 low.
Above $1.0629 sit the $1.0666-to-$1.0671 June lows which may act as resistance.
EUR/GBP slips to support
EUR/GBP slips back to the £0.8271-to-£0.826 support area which may once again hold. If not, the £0.8250 mid-August 2022 low could be reached next.
Resistance above £0.8312 high can be seen along the 55-day simple moving average (SMA) at £0.8336. Only a rise above it would target the previous week's high at £0.8375 as well as the late August low at £0.84.
GBP/USD sideways trades
GBP/USD rise from its November six-month low at $1.2488 has taken it to its September-to-December downtrend line at $1.2811 which acted as resistance. Were Friday's high at $1.2811 and the 200-day SMA at $1.282 to be bettered, the 23 October low at $1.2908 would be in sight.
Potential slips may find support around the 20 November high at $1.2715 and at last Monday's $1.2617 low. Below this level sits the mid-November $1.2597 low.
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