EUR/GBP extends breakout above multi-month range – Société Générale
Source Fxstreet
EUR/GBP has continued higher after breaking out of its multi-month consolidation in October, setting an interim peak near 0.8820, Société Générale's FX analysts note.
Support at 0.8740/0.8710 key for EUR/GBP trend
"EUR/GBP broke out above the upper boundary of its multi-month consolidation in October resulting in extension of the uptrend. It has established an interim high near 0.8820. A brief pause is taking shape; upper limit of previous range and the 50-day moving average at 0.8740/0.8710 could be an important support zone."
"Defence of the moving average may lead to continuation in up move. Beyond 0.8820, the next projections are located at 0.8870/0.8910."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
US Dollar's Decline Predicted in 2026: Morgan Stanley's Outlook on Currency VolatilityMorgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.
Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.
Silver surged to a new high on Monday, extending a record-breaking rally as traders bet on persistent supply tightness and rising expectations for U.S. interest-rate cuts. Gold held steady.
U.S. Dollar Weakened by Dismal Manufacturing Data; Rate Cut Expected This MonthThe U.S. dollar remains under pressure as disappointing manufacturing data heightens expectations for a rate cut by the Federal Reserve at its upcoming meeting on December 10. Manufacturing PMI fell to 48.2, marking the ninth consecutive month of contraction.
The U.S. dollar remains under pressure as disappointing manufacturing data heightens expectations for a rate cut by the Federal Reserve at its upcoming meeting on December 10. Manufacturing PMI fell to 48.2, marking the ninth consecutive month of contraction.
Asian equities edged higher on Tuesday, recovering partially from a broad sell-off on Wall Street as global bond yields climbed and traders assessed the prospect of tighter monetary policy from the Bank of Japan.
Asian markets stabilized thanks to Wall Street's recovery, with Bitcoin regaining $90,000. Investor focus shifts to a potential Federal Reserve rate cut, improving overall market sentiment ahead of December.
Related Instrument
