EURUSD formed a new higher high yesterday at the 1.07486 level.
Pair GBPUSD tested the 1.22000 level once again yesterday.
EURUSD formed a new higher high yesterday at the 1.07486 level. After the check, we see a stoppage of growth and a pullback from the maximum. During the Asian trading session, the pair continues to slide, leading to a drop below the 1.07000 level. This morning’s low was at the 1.06800 level, then the euro consolidated and rose again above the 1.07000 level.
We need a positive consolidation and a return to the resistance zone around the 1.07500 level for a bullish option. A break above and staying up would greatly increase the chances that we could see further EURUSD growth. We need a negative consolidation and a retest of support at the 1.06800 level for a bearish option. EURUSD falling below could take us to the next support zone around the 1.06500 level.
Pair GBPUSD tested the 1.22000 level once again yesterday. After this, we see a pullback to the 1.21500 level, and GBPUSD stayed at that level during the Asian trading session. For a bullish option, we need a new positive consolidation and a return to the resistance zone around 1.22000.
Then we need a break above and hold above in order to trigger a continuation of the recovery with the next impulse. A potential higher target is the 1.22500 level. We need an inactive consolidation and a drop below the 1.21500 level for a bearish option. After that, we could expect to see a drop to the 1.21000 level. A break below it would likely send GBPUSD down to a new test of the 1.20000 support level.
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