EUR/GBP Price Analysis: Downtrend resuming

The correction from the June 14 lows appears to have finished.
EUR/GBP continues descending as the intermediate downtrend resumes.
The pair now targets 0.8399.

EUR/GBP is resuming its medium-term downtrend after the correction higher from the June 14 lows appears to have peaked and rolled over.

Given “the trend is your friend” more weakness is foreseen.

EUR/GBP Daily Chart

A break below 0.8431 (July 8 low) would provide added bearish confirmation of an extension of the downtrend lower to the next target at 0.8399, the June 14 low.

Jul 8, 2024

Precious metals continue to grow – TDS

Precious metals continued to perform well in a holiday-shortened week, TD Securities Senior Commodity Strategist Ryan McKay notes.

GBP/USD Price Analysis: Climbs to 4-week high, buyers target 1.2900

The Pound Sterling begins the week on a higher note and posted gains of more than 0.20%, as the Greenback continued to edge lower, amid increasing expectations that the Federal Reserve could cut borrowing costs in September.