EUR/USD, EUR/GBP and GBP/USD stabilize ahead of weekend
EUR/USD, EUR/GBP and GBP/USD stabilize following week of US dollar strength amid strong US PMI data and rates higher for longer scenario.
EUR/USD finds support
GBP/USD still flirts with the breached December-to-May downtrend line at $1.0810, below which the 55- and 200-day simple moving averages (SMAs) at $1.0787 might act as support. Resistance remains to be seen at last week's $1.0895 high, above which lies the March peak at $1.0981.
EUR/GBP hovers above key support
EUR/GBP weighs on its major £0.8503-to-£0.8493 support area from which it may still bounce back as it has done since August 2023. Were a daily chart close below £0.8493 to be made, though, the July and August 2022 lows at £0.8409-04 would be in focus. Minor resistance sits at the £0.8521 mid-April low and above it at the £0.8531 late April low.
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