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ForexMediumUpdated×9•Originally published 14 April 2026•Updated 16 April 2026•

1 min read

European Currencies Extend Upward Trajectory as EUR and GBP Hit Key Targets

A golden dollar sign glows green at the center of a world map, with green lines connecting continents. Currency codes EUR, EPY, JPY, EDF, and GBP are visible at the bottom. An upward arrow is in the t

Key Facts

1EUR/GBP holds above key Simple Moving Averages (SMAs) within a wedge pattern.

about 2 months ago

Version History

1 additional source confirmed this story

Version 9about 2 months ago

What changed: Updated the narrative to include GBP/USD reaching a two-month high, AUD/USD targeting multi-year highs, and technical support levels for USD/CAD.

Version 8about 2 months ago

What changed: Updated the report to include specific technical price levels for GBP/USD (1.3550 and 1.3600) and identified UK GDP data as the primary driver behind Sterling's strength.

Version 7about 2 months ago

What changed: Updated the story to include the EUR/GBP softening below 0.8700 driven by robust UK economic data.

Version 6about 2 months ago

What changed: The narrative was updated to reflect a shift from sideways trading to a confirmed upward trajectory, with European currencies hitting targets due to sustained USD weakness.

Version 5about 2 months ago

What changed: The story was updated to include Rabobank's forecast of a modest upside bias for EUR/GBP in autumn, shifting the outlook from purely sideways trading.

Version 4about 2 months ago

What changed: The story was updated to include critical technical resistance analysis for the EUR/USD pair based on insights from Michael Boutros, while maintaining the original outlook for the British Pound.

Version 3about 2 months ago

What changed: The story was updated to reflect EUR/GBP moving sideways as traders assess geopolitical developments regarding a potential Iran deal.

Version 2about 2 months ago

What changed: The story was updated to reflect the Pound's broader strength across the FX space, specifically noting the recovery in GBP/USD from its recent cycle lows.

Version 1about 2 months ago

What changed: The story was updated to include the 0.8700 trading level for EUR/GBP and the anticipation surrounding upcoming speeches by BoE and ECB governors.

Global currencies are extending their rally against the US Dollar, with the GBP/USD pair reaching a two-month high near 1.3590 supported by a prevailing risk-on market mood. Simultaneously, the AUD/USD pair is looking to reclaim a multi-year high of 0.7190, highlighting the broader Greenback weakness across G10 currencies. In North America, the USD/CAD pair held its ground above the 200-SMA on the H4 chart, trading within the 1.3770-1.3775 range. While the British Pound remains robust following stronger-than-expected UK GDP data, the EUR/GBP cross has softened below 0.8700 due to Sterling's relative outperformance. Investors are now closely monitoring upcoming commentary from ECB and BoE officials to gauge the sustainability of these price levels. These developments underscore a significant shift in market sentiment as the Dollar Index remains under sustained selling pressure.