EUR/USD, EUR/GBP slip while GBP/USD rises at end of week
EUR/USD, EUR/GBP slip while GBP/USD rises post UK growth data release.
EUR/USD comes off 8-month high
Following stronger-than-expected US July retail sales, EUR/USD has come off its $1.1047 8-month high and is now short-term consolidating. Above $1.1047 the 10 August 2023 high remains to be seen at $1.1065.
A slip through Thursday's $1.0949 low would have short-term bearish implications, though, with the early June high at $1.0916 being back in play.
EUR/GBP keels over
EUR/GBP topped out below the April-to-August peaks at £0.8624-to-£0.8644 and is now trading in one-week lows whilst aiming for the £0.8499 early July high.
Minor resistance is seen along the 200-day simple moving average (SMA) at £0.8551.
GBP/USD trades in two-week highs
GBP/USD's recovery off its $1.2665 early August low has now overcome Tuesday's $1.2873 high and targets the $1.2888-to-$1.2938 resistance area, made up of the late July highs. This zone may short-term cap, though.
Minor support is seen between Thursday's low and the 55-day SMA at $1.2799-to-$1.2790.
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