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GBP/USD Recovers, EUR/GBP Eyes More Upsides – Analytics & Forecasts – 12 September 2022

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GBP/USD started a fresh increase above the 1.1550 zone. EUR/GBP is rising and might climb further higher above the 0.8700 resistance.

Important Takeaways for GBP/USD and EUR/GBP

· The British Pound started a fresh recovery wave above the 1.1550 resistance zone against the US Dollar.

· There is a key bullish trend line forming with support near 1.1585 on the hourly chart of GBP/USD.

· EUR/GBP climbed higher above the 0.8620 and 0.8650 resistance levels.

· There is a major bullish trend line forming with support near 0.8665 on the hourly chart.

GBP/USD Technical Analysis

The British Pound found support near the 1.1420 zone against the US Dollar. The GBP/USD pair started a recovery wave and was able to clear the 1.1500 resistance zone.

There was a decent increase above the 1.1550 level and the 50 hourly simple moving average. The pair even climbed above the 1.1600 level. A high was formed near 1.1641 on FXOpen and the pair is now correcting gains……More  info:  blog  FXOpen 

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