The EUR/GBP rallies for the fourth straight day in the mid-North American session, gains a minimal 0.08%, trading at 0.8724 after hitting a daily low of 0.8693. The cross-pair is upward biased once it reclaimed the 200-day moving average (DMA) at 0.8687. Nevertheless, the uptrend appears to have lost some steam, as the Average True Range (ATR) at 37 pips suggests volatility is shrinking. For a bullish resumption, EUR/GBP buyers must reclaim the October 11 high at 0.8754, followed by the 0.8800 figure. On the other hand, if sellers’ step in and pull the exchange rate below 0.8700, that would open the door to test the 200-DMA at 0.8687, which would exacerbate a drop to the 50-DMA at 0.8653.
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US Dollar Continues Upward Momentum Amid Economic Data and Fed Signals
The US Dollar (USD) has entered volatile trading on Friday, attempting to extend its winning streak to six consecutive sessions. Positive economic data and Federal Reserve (Fed) commentary have created a mixed but broadly supportive environment for the Greenback. The US Dollar Index (DXY) sees heightened activity, with traders eyeing
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November 15, 2024
