The primary trend direction in EURGBP is unchanged and remains down. Prices have shown below the bear trigger at 0.8518, the Jun 19 low, confirming a resumption of the downtrend. Note that moving average studies are in bear-mode position, highlighting current trend conditions. Key resistance has been defined at 0.8658, the Jun 28 high. A break of this hurdle would highlight a potential reversal.
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USDCAD maintains a softer tone and traded to new multi-month lows Friday. The resumption of weakness exposes 1.3302, the Apr 14 lows and a key support. Clearance of this level would strengthen bearish conditions. On the upside, initial firm resistance is at 1.3479, the 20-day EMA. A break of this level is required to ease bearish pressure.
The AUDUSD bull cycle that started on May 31 remains in play and the pair is trading at its recent highs. Resistance at the 50-day EMA has been cleared. The break higher strengthened on the break of 0.6733, 76.4% of the downleg in May. On the downside, a reversal lower is required to refocus attention on 0.6458, the May 31 low. Initial support is seen at 0.6623, the 20-day EMA.