- The euro among the best performers on Wednesday, driven by yield spreads.
- The EUR / GBP looking at the 20-day simple moving average and 0.8650.
The EUR/GBP It is rising for the second day in a row, and recently hit a fresh one-week high at 0.8642. It is hovering around 0.8635 / 40 with an intact bullish tone. A stronger euro across the board and a bearish correction in GBP / USD pushed EUR / GBP higher. In addition, technical factors favored the movement.
The euro is well above the Swiss franc. EUR / CHF jumped to 1.1027 on Wednesday, reaching the highest level since April 29, and then fell back, staying above 1.1000.
The pound is declining from monthly highs and bottomed at 1.4129. Risk aversion in financial markets weighed on GBP / USD, adding further support to EUR / GBP.
From a technical perspective, the EUR / GBP continues to move with a bullish bias, near an area of ​​strong resistance seen at 0.8650, a horizontal level and the 20-day moving average. A break above would expose the next resistance at 0.8670, and then attention would turn to 0.8700.
On the other hand, 0.8625 (previous resistance) is now immediate support, followed by 0.8605 / 10 (daily low).
Technical levels
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