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​EUR/GBP stays sidelined while GBP/USD and AUD/USD advance

​​EUR/GBP stays sidelined while GBP/USD and AUD/USD advance​ further still despite planned US-China trade talks later this week.

GBP/USD Source: Adobe images

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:

​​​EUR/GBP remains sidelined 

EUR/GBP trades above Tuesday's £0.8463 low, made close to the January high at £0.8473, both of which may again act as minor support. 

​Because of inverse polarity the recent daily lows at £0.8520-to-£0.8531 may act as resistance ahead of the more important  £0.8613-to-£0.8623 resistance zone.  

​Only if overcome, would the December 2023 peak at £0.8714 and the current April peak at £0.8738 high be back in view. 

​​EUR/GBP daily chart

EUR/GBP chart Source: TradingView

​GBP/USD stays bid 

GBP/USD recovered from last week's $1.3260 low which together with the previous week's $1.3234 low should offer support. While this support zone underpins, the recent $1.3444 high and the February 2022 low at $1.3487 will remain in focus.  

GBP/USD daily chart

GBP/USD chart Source: TradingView

​AUD/USD hovers above resistance 

AUD/USD once more managed to rise above the February-to-April highs at $0.6388-to-$0.6439, this time to $0.6515 before dipping. 

​Minor support is seen along the 200-day simple moving average (SMA) at $0.6455. 

Minor support below the 22 April high at $0.6439 sits between the 24-to-30 April lows at $0.6356-to-$0.6344 ahead of the 55-day SMA at $0.6312.​​ 

AUD/USD daily chart

AUD/USD chart Source: TradingView

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