Will the euro-pound exchange rate trend downward?

Will the euro-pound exchange rate trend downward?

08.04.2022

In the previous session, the U.S. dollar traded in a tight range against European currencies, with the EUR/USD pair fluctuating between 1.086 and 1.093. However, during today’s Asian trading session, the EUR/USD broke below yesterday’s low of 1.086. Since the daily chart’s upward channel has already broken down, we will be closely monitoring whether the pair moves toward the recent low of 1.080.

Due to the prolonged situation in Ukraine, European currencies continue to face resistance, and the euro-pound pair fell from 0.836 to 0.831. Since the euro-pound pair remains within a downtrend on daily and longer-term time frames, we need to closely monitor whether the decline will continue and target the immediate support level of 0.829.

There are no major economic indicators scheduled for release during European trading hours today. However, once U.S. trading begins, Canada’s unemployment rate and net change in employment are set to be released at 9:30 p.m., followed by the final U.S. wholesale inventories report at 11:00 p.m. With no major economic indicators or key speeches on the horizon, we should remain vigilant for significant price movements and keep a close eye on currency strength.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?