EURUSD and GBPUSD: Euro seeks new support at 1.06000

• During the Asian trading session, EURUSD continues to grow from the 1.06000 level. 
• During the Asian trading session, GBPUSD finds support at the 1.21000 level. 

EURUSD chart analysis

During the Asian trading session, EURUSD continues to grow from the 1.06000 level. The jump of the euro formed a new high at the 1.06700 level. We are currently seeing a minor pullback to the 1.06400 level, and if the current pressure continues, we could once again find ourselves at the 1.06000 support level.

A break below that support could further weigh on EURUSD and send it to lower levels. Potential lower targets are 1.05500 and 1.05000 levels. We need a new positive consolidation and a return above the 1.06600 level for a bullish option. That would bring us back to the positive zone where we could continue the EURUSD growth. Potential higher targets are 1.07000 and 1.07500 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD finds support at the 1.21000 level. After which, we see a bullish impulse and the formation of a new high at the 1.21800 level. There has been a pause in the bullish trend, and the pound is retreating to the 1.21300 level. We need a negative consolidation and a pound fall below the 1.21000 level for a bearish option.

This would lead to increased volatility, and we should see further declines in GBPUSD. Potential lower targets are 1.20500 and 1.20000 levels. We need a positive consolidation and a return above the 1.21500 level for a bullish option. Then we need to stay up there and, with a new impulse, start further recovery. Potential higher targets are 1.22000 and 1.22500 levels.