• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy EURUSD and GBPUSD: The second part of the week is recovery
Economy

EURUSD and GBPUSD: The second part of the week is recovery

by October 25, 2024
by October 25, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

EURUSD and GBPUSD: The second part of the week brings recovery

On Wednesday, October 23, EURUSD retreated to 1.07612 to a new weekly low
On Wednesday evening, 23 October, GBPUSD fell to a weekly low of 1.29074

EURUSD chart analysis

On Wednesday, October 23, EURUSD retreated to 1.07612 to a new weekly low. The previous time the pair was at that level was in early July. After getting new support, EURUSD started a bullish consolidation, and on Thursday, we returned above the 1.08000 level. During this morning’s Asian session, the pair came under pressure again, returning from 1.08280 to 1.08140. After that, the euro gains strength in the EU session and jumps to 1.08375 levels.

The return to the bullish side still looks very weak, as we are back below the daily open level. We need a stronger impulse to 1.08400 to have room for consolidation above the daily open price. Potential higher targets are 1.08500 and 1.08600 levels. For a bearish option, EURUSD would first have to break the previous support level of 1.08140. With that step, we form a new daily low, and the pressure on the pair to continue with the retreat increases. Potential lower targets are 1.08100 and 1.08000 levels.

 

GBPUSD chart analysis

On Wednesday evening, 23 October, GBPUSD fell to a weekly low of 1.29074. The next day, on Thursday, after a short consolidation, the pair started a bullish recovery to 1.29880 levels. During this morning’s Asian session, the pound made a slight bearish move to the 1.29600 support level. We have additional support in the EMA 50 moving average at this level. Now we see a new bullish consolidation from there and expect a break of yesterday’s high.

Potential higher targets are 1.30000 and 1.30200 levels. At 1.30000, we will have additional resistance in the EMA 200 moving average. For a bearish option, GBPUSD needs to pull back to the 1.29600 support level. This time, we are looking for a break below and the formation of a new daily low. This confirms the strengthening of the bearish momentum, and the pair will have to continue its retreat. Potential lower targets are 1.29400 and 1.29200 levels.

 

The post EURUSD and GBPUSD: The second part of the week is recovery appeared first on FinanceBrokerage.

You Might Also Like
  • MA launches ‘green bank dedicated to affordable housing’ in effort to address climate change, housing market
  • House to vote on CR funding bill as government faces likely shutdown this weekend
  • Top Crypto Gainers & Losers: SANTOS Token +57%, OOKI Down
  • GOP reactions pour in after Trump arraigned on 37 charges: ‘Dark day for our country’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
S&P 500 and Nasdaq: Prices and Targets for Friday
next post
Oil and Natural Gas: Friday Targets and Prices

You may also like

Scalise brings in eye-popping $12M as GOP kicks off 2024...

April 10, 2024

Biden mixes up words when speaking about the Infrastructure Investment...

August 16, 2023

China could use AI deepfake technology to disrupt 2024 election,...

May 12, 2023

House passes McCarthy’s debt ceiling bill by two votes, four...

April 27, 2023

Polling guru Nate Silver offers ‘struggling’ Biden advice as polls...

May 24, 2024

GOP senators could block Jack Lew from Israel ambassadorship over...

October 17, 2023

Bob Menendez and Hunter Biden are facing similar claims of...

March 13, 2024

WATCH: Biden claims without evidence he was at Ground Zero...

September 12, 2023

Fox News Power Rankings: Is Kamala Harris unburdened by what...

July 22, 2024

205 Democrats vote against bill forcing federal workers to return...

February 2, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Democrat godfathers make Biden offer they...

    July 19, 2024

    Blinken, guitar in hand, sings ‘Rockin’...

    May 15, 2024

    Putin lashes out at West over...

    August 13, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here