EUR/USD, GBP/USD power ahead while EUR/GBP hovers above support
EUR/USD, GBP/USD power ahead amid weakening greenback while EUR/GBP hovers above support.
EUR/USD digs into key resistance
EUR/USD is once again trying to break through its key $1.0461-to-$1.0533 resistance area. It needs to be bettered for a medium-term bullish reversal to be confirmed.
Minor support is still seen along the 55-day simple moving average (SMA) at $1.0397 and also at the 23 January low at $1.0372.
Major support below last week's $1.0281 low remains to be seen at the January-to-February lows at $1.0224-to-$1.0178.
EUR/GBP drops further
EUR/GBP still hovers above its late December low at £0.8264. A fall through this level would put the December low at £0.8223 on the map.
Minor resistance remains to be seen at the early February low at £0.8292 ahead of the 10 February low at £0.8310 and the 55-day SMA at £0.8328. Further up lies last week's £0.8352 high.
GBP/USD powers ahead
GBP/USD is gunning for the mid-December high at $1.2729 while Wednesday's low at $1.2564 underpins.
Medium-term upside pressure should be maintained while last Tuesday's low at $1.2333 underpins.
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