EUR/GBP: Above 0.8510/0.8530, a larger upside is likely – Societe Generale

EUR/GBP has crossed above the 200-DMA resulting in a steep up move, Societe Generale's FX analysts report.

Defence of 0.8375 is crucial for persistence in uptrend

"It is attempting a breakout from a multi-month consolidation. Upper limit of the descending channel drawn since 2023 at 0.8510/0.8530 is next potential resistance zone. If the pair establishes above this hurdle, a larger upside is likely."

"Next objectives could be located at projections of 0.8575 and last August high at 0.8625/0.8650. Defence of the MA at 0.8375 will be crucial for persistence in uptrend."

Apr 4, 2025

India FX Reserves, USD rose from previous $658.8B to $665.4B in March 24

USD/JPY: Below 145.00, further decline is likely– UOB Group

US Dollar (USD) is likely to trade in a 145.20/147.50 range vs Japanese Yen (JPY). In the longer run, too early to expect weakness to stabilise, but USD must break and hold below 145.00 before further decline is likely, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.