EUR/GBP jumps to session high at 0.8380

Haresh Menghani FXStreet

After dipping to session low around 0.8338 level, the EUR/GBP cross regained its bullish traction and is now trading near session high level near 0.8380 region.

The shared currency benefitted from the upbeat print of the German IFO Business Climate index for July. The Business Climate, Business Expectations and Current Assessment printed 108.3, 102.2 and 114.7 respectively.

Meanwhile, the British Pound remained confined within a broad trading range, struggling for direction in absence of any economic releases from UK.

Going forward, important macro releases, Q2 GDP data from UK and Euro-zone on Wednesday and Friday respectively, and the preliminary release of Euro-zone CPI on Friday, would now assist traders to determine the near-term direction of the EUR/GBP cross.

Technical levels to watch

On the upside, 0.8400 region remains immediate strong resistance, above which the pair seems to extend its bullish traction towards 0.8470 (July 14 high) before heading towards 0.8500 psychological mark resistance.

On the downside, weakness below session low support near 0.8337, and a subsequent break below 0.8300 handle, now seems to force the pair to break through 0.8250 (July 14 swing lows) and head towards extending its near-term corrective move towards 0.8188 (June 27 low).

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD rises to 1.1800 neighborhood amid renewed USD selling and trade uncertainties

The EUR/USD pair regains positive traction during the Asian session on Wednesday and jumps to the 1.1800 neighborhood in the last hour, reversing the previous day's modest losses. The intraday move up is sponsored by the emergence of fresh US Dollar, which continues to be weighed down by persistent trade-related uncertainties.

GBP/USD remains stronger above 1.3500 following Trump’s State of the Union

GBP/USD remains in the positive territory for the fourth successive session, trading around 1.3510 during the Asian hours on Wednesday. The pair appreciates as the US Dollar remains subdued following US President Donald Trump’s first State of the Union address of his second administration before a joint session of Congress.

Gold stays firm above $5,150 as Trump's delivers State of the Union speech

Gold finds fresh demand and regains the $5,150 level following the previous day's pullback from the monthly peak as traders assess Trump's State of the Union address. Trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.