EUR/GBP levels: The bias remains bullish

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/GBP

The bias remains bullish.

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Pivot (invalidation): 0.8870

Our preference
Long positions above 0.8870 with targets at 0.8900 & 0.8915 in extension.

Alternative scenario
Below 0.8870 look for further downside with 0.8855 & 0.8840 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

EUR/CHF

1.1647 is our pivot (invalidation) point.

Our preference
The upside prevails as Long as 1.1647 is support.

Alternative scenario
The downside breakout of 1.1647 would call for 1.1627 and 1.1615.

Comment
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 1.1660 and 1.1661).

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.