The following are the intraday outlooks for EUR/USD, EUR/GBP and GBP/USD as provided by the technical strategy team at SEB Group.
EUR/USD: Checking nearby support. The wave structure argues for a "wave-5 high" in place and this offers room to maneuver south from here, but to show better sellers' initiative. supports in the 1.1175/1.0955-zone must be lost again. Current intraday stretches are located at 1.1175 & 1.1350. NFP today is a main distraction.
EUR/GBP: The pound cheers UK exit polls. The correctional move higher missed its "Equality point" by a mere six pips. The low session close added a bearish print which has been followed up upon in Asia on UK election polls easing concerns. The key ref to stay on the lookout for (to confirm that the underlying downtrend is resumed) is located at 0.7118.
GBP/USD: Contesting medium-term resistance. Dynamic support at the 55day exponentially weighted moving average band (1.5170/1.5015) was earlier respected, but the election result is the fuel to the fire burning cable into fresh highs which also threatens a medium-term (late Feb) peak at 1.5554, at which the 233day exponentially weighted moving average band also comes into play as does the short-term 161.8% Fibo projection ref at 1.5643 - and none of those are safe right now.
