Due to exhaustion of the downside swing in the background and fresh demand today, I see potential for the further upside movement.
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EUR/USD stays pressured toward 1.1100, as USD recovers ahead of Fed Minutes
EUR/USD stays on a slippering slope toward 1.1100 in the European session on Wednesday. The pair is weighed down by resurgent US Dollar demand, as markets turn cautious ahead of the annual US NFP revision and the Fed Minutes.
GBP/USD struggles above 1.3000 on renewed US Dollar demand
GBP/USD remains offered toward 1.3000 in European trading on Wednesday, having hit yearly highs at 1.3052 on Tuesday. The US Dollar finds fresh demand amid a tepid risk tone, as traders await the US NFP revisions and the Fed Minutes for fresh cues on the policy path.
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