Until mid-Thursday of last week the GBPUSD traded in a rather consolidated manner, but the quiet speculative landscape disappeared and the currency pair began producing vicious moves- Forex Trading Forecast
will start this week’s trading near the 1.08300 level, which is quite an accomplishment considering the currency pair touched the 0.95350 realms in late September of 2022.
The EUR/USD provided speculators with a bullish perception and plenty of positive sentiment early last week. The currency pair maintained value and essentially created fairly durable support around the 1.07150 realms, which maintained the highest levels of its one-month trading range. The ability of the EUR/USD to sustain price action near the 1.08300 mark is noteworthy and trading on Monday and Tuesday should be monitored closely. Intriguingly, the U.S has a banking holiday tomorrow which means most U.S. financial houses will be closed and this leaves the door open for the potential of rather choppy conditions to start the week.
Support for the EUR/USD in the short term should be watched near the 1.08250 level, if this level is sustained it would be important. However, a move below 1.08000 would not be surprising and may fit the technical narrative for the EUR/USD well.
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