EUR/USD, EUR/GBP, and GBP/USD rebounded from their lows
On Monday (November 25) in the European session, the euro/dollar, euro/pound and pound/dollar rebounded from their lows, and the dollar fell slightly, because the yield of US treasury bond bonds fell after Trump nominated Besson as US Treasury Secretary.
The following is a technical analysis of three currency pairs: Euro/USD, Euro/GBP, and GBP/USD.
EUR/USD rebounds from low of 1.0333
EUR/USD daily chart
The euro/dollar fell below the downward target level of 1.0423 in January 2023, and then continued to drop to 1.0333.
We are currently testing a small resistance level of 1.0497, and the resistance level above it is at last Wednesday's high of 1.0610. Although there has been a rebound, the short-term downward trend has not changed.
EUR/GBP rebounds from support level
EUR/GBP daily chart
The euro/pound rebounded from last Friday's low of 0.8269, below which is the current November low of 0.8260, last traded in April 2022.
The 55 day Simple Moving Average (SMA) was at 0.8356 and has now returned to its focal point. Above it is the high point of 0.8375 from last week and the low point of 0.8400 at the end of August.
GBP/USD finds temporary support
GBP/USD daily chart
The pound/dollar rebounded from the six-month low of 1.2488 hit last week and is about to touch the short-term downward trend line of 1.2620. If it breaks through, last week's high of 1.2715 may provide resistance. The support level is currently at 1.2488.
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