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EURUSD and GBPUSD: Pound again at 1.20000 level

  • During the Asian trading session, EURUSD managed to maintain above the 1.06000 level.
  • During the Asian trading session, GBPUSD continued to recover. 

EURUSD chart analysis

During the Asian trading session, EURUSD managed to maintain above the 1.06000 level. The pair advanced to 1.06300, where we encountered resistance and began a pullback. The euro is again on the threshold of testing the support at 1.06000 levels. If the current pressure continues, we could see a breakout of the euro below and a continuation of bearish options.

The next lower target is the previous low at the 1.05800 level. For a bullish option, we need a break above the 1.06300 level. Then we need to stay up there and, with a new impulse, try to start the continuation of the recovery. Potential higher targets are 1.06500 and 1.06800 levels.

EURUSD Chart Analysis

GBPUSD chart analysis

During the Asian trading session, GBPUSD continued to recover. The pair managed to climb back up to the 1.20000 level, and if this positive consolidation continues, we could see GBPUSD continue to rise. The next important level is 1.20200 because we meet the EMA50 moving average there, which could slow the recovery.

Potential higher targets are 1.20500 and 1.21000 levels. We need a negative consolidation and pullback to the 1.19600 support level for a bearish option. A break below would add uncertainty to the recovery, and we could fall back to previous support at the 1.19225 level. A potential lower target is the 1.19000 level.

GBPUSD Chart Analysis

 



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