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Brent stalls below 200-DMA, downside risks mount – Société Générale

Brent remains capped below its 200-DMA near $70, with repeated failures to break higher raising the risk of another downward leg toward $65 and potentially $63–61, Société Générale's FX analysts note.

Key resistance at $70 caps Brent rally

"Brent has consistently struggled to surpass the 200-day moving average (DMA), indicating a lack of sustained upward momentum. The moving average, which is currently positioned around $70.00/70.75, acts as a short-term resistance zone."

"If Brent fails to break above this hurdle, there is a risk of another downward move. A break below the recent pivot low at $65.00 could trigger an extended decline toward $63.30/63.00 and projections near $60.90."

EUR/USD: A clear break above 1.1760 to stabilize EUR – UOB Group

A clear break above 1.1760 would indicate that Euro (EUR) could trade above last week’s low of 1.1645 for a while, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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GBP/JPY Price Forecast: The Pound dives further, approaching 198.00

The British Pound keeps heading lower on Wednesday against a firmer Japanese Yen, and is on track for a more than 1% depreciation in the last three days, following a reversal from the 200.00 level, and is about to test a key support area at 198.00
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