EUR/GBP comes under pressure, but AUD/USD and EUR/JPY keep rising
EUR/GBP slumps
A reversal continues here with EUR/GBP, taking the pair back below the 200-day simple moving average (SMA).
A continuation of the losses will target £0.8492, the peak of 1 July and the top end of the gap down from early June. A close below this reinforces the view that the price is headed lower. Buyers would ideally want a close back above the 200-day SMA to avert this bearish case.
AUD/USD pushes through 200-day MA
A brief wobble on Friday and Monday saw the price of AUD/USD stumble at the 200-day SMA, but it is pushing higher once again today.
A close above the 200-day SMA bolsters the bullish view and helps to argue for further gains in the direction of $0.67. Sellers will want a reversal back below $0.6550 to suggest a new leg lower has begun.
EUR/JPY moves higher
Fresh gains have carried the price back towards ¥162.00 with EUR/JPY, maintaining the recovery from last week’s lows.
A close above ¥162.00 would put the price on course to test ¥163.64, highs from November and February, and then the 200-day SMA (currently ¥164.00).
