​​EUR/USD retains bid

EUR/USD still sideways trades below last week's post-Fed 50 basis point (bps) rate cut $1.1189 high, made marginally below its $1.1201 August peak. This will remain in sight while Thursday's low at $1.1069 underpins.

Minor support above $1.1069 can be seen in the $1.1030 region.

Source: TradingView.com Source: TradingView.com

EUR/GBP retests July low

EUR/GBP tests its £0.8378 July low which, together with the November 2021 trough at £0.8373 is expected to offer support. As long as this support zone holds, a bounce back towards the £0.8404 late August low may be on the cards.

Failure at £0.8373 would eye the £0.8367 early May 2022 low, below which lies the early August 2022 low at £0.8340.

Source: TradingView.com Source: TradingView.com

GBP/USD looks bid

GBP/USD has so far risen to $1.3340, close to the $1.3358 January 2022 low which may short-term cap.

Immediate support can be found at the $1.3267 August peak.

Source: TradingView.com Source: TradingView.com