4 Global Market Updates- 18 August, 2022

 

In this article, we have covered the highlights of global market news about the EUR/GBP, USD/CAD, AUD/USD – Danske Bank, and USD/CNY – Commerzbank.
EUR/GBP Price Analysis: Crosses Important Obstacle of 0.8460, Eyed Monthly Peak

Early on Thursday morning in Europe, EUR/GBP bulls break over the 0.8460 resistance confluence while continuing the day’s recovery.

That being said, the 0.8460 level is the main roadblock for buyers, as shown by the confluence of the 200-SMA and a downward-sloping trend line from July 1.

The EUR/GBP buyers are expected to maintain control given the bullish MACD signals and lately higher RSI, as well as the persistent trading beyond the monthly horizontal support region around the 0.8400 round figure.

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