EURUSD and GBPUSD: Euro remains stable above 1.09000
- During the Asian trading session, EURUSD moved in the range of 1.08900-1.09100.
- During the Asian trading session, GBPUSD retreated to support at the 1.24000 level.
EURUSD chart analysis
During the Asian trading session, EURUSD moved in the range of 1.08900-1.09100. At the beginning of the EU session, the pair made a breakthrough above 1.09100 and moved to 1.09200 levels. If we manage to stay up there, we could see the continuation of the positive trend and EURUSD climbing to higher levels. Potential higher targets are 1.09250 and 1.09400 levels. We need a negative consolidation and a pullback of the EURUSD below the 1.09000 level for a bearish option. Then we would again be in a position to test the support at the 1.08900 level. EURUSD breakout below could take this pair down to the 1.08800 level, where the EMA50 4H moving average awaits us as support.
GBPUSD chart analysis
During the Asian trading session, GBPUSD retreated to support at the 1.24000 level. At the 1.24000 level, the pound finds support in the EMA50 moving average. Then we see a positive consolidation and growth of GBPUSD to the 1.24350 level. If we manage to stay at that level, a new bullish impulse could be followed by a continuation of the growth of the bullish trend. Potential higher targets are 1.24500 and 1.24750 levels. For a bullish option, we need this negative consolidation and pullback to support the 1.24000 level. A fall in the pound below this level could lead to a further pullback in GBPUSD. Potential lower targets are 1.23800 and 1.23500 levels.
