The EURUSD and GBPUSD currency pairs have been closely watched by traders and investors alike in recent weeks. The euro has been defending its position at the 1.09500 level against the US dollar, while the pound has been struggling to gain momentum against the greenback.
The euro has been under pressure due to concerns over the economic impact of the coronavirus pandemic. However, the European Central Bank (ECB) has taken steps to support the economy, including launching a massive bond-buying program and providing cheap loans to banks.
Despite these efforts, the euro has struggled to gain ground against the US dollar. The 1.09500 level has been a key support level for the currency pair, and the euro has managed to defend this level in recent trading sessions.
Meanwhile, the pound has been struggling to gain momentum against the US dollar. The UK economy has been hit hard by the pandemic, and there are concerns over the impact of Brexit on the economy.
The GBPUSD currency pair has been trading in a range between 1.22000 and 1.25000 in recent weeks. The pound has been unable to break above the 1.25000 level, which is a key resistance level for the currency pair.
Overall, the EURUSD and GBPUSD currency pairs are likely to remain volatile in the coming weeks. Traders and investors will be closely watching economic data releases and central bank announcements for clues on the direction of these currency pairs. The euro’s defense at 1.09500 is a key level to watch, while the pound’s struggle to gain momentum against the US dollar is likely to continue.