EURUSD and GBPUSD: Euro stable at 1.06500 level
- During the Asian trading session, EURUSD held above the 1.06500 level.
- During the Asian trading session, GBPUSD starts a new bearish consolidation from the 1.21000 level.
EURUSD chart analysis
During the Asian trading session, EURUSD held above the 1.06500 level. The Euro managed to move up to the 1.068000 level, and we could soon find ourselves at the 1.07000 level again. We need a break above for a bullish option and try to hold above there. After that, with the next bullish impulse, they could continue with the recovery.
Potential higher targets are 1.07500 and 1.08000 levels. For a bearish option, we need a negative consolidation and a fall of the euro below the 1.06500 level. After that, we could expect to see a further fall in the euro. Potential lower targets are 1.06000 and 1.05500 levels.
GBPUSD chart analysis
During the Asian trading session, GBPUSD starts a new bearish consolidation from the 1.21000 level. Now we are already below the 1.20500 level, and we could continue toward the 1.20000 level. Further negative consolidation would lead to a break below and a further decline in the value of the British currency.
Potential lower targets are 1.19500 and 1.19000 levels. We need a positive consolidation and a return to the 1.21000 level for a bullish option. Then we need to hold up in order to be able to initiate a new bullish impulse. Potential higher targets are 1.21500 and 1.22000 levels.
