EURUSD and GBPUSD: The dollar continues to dominate

• During the Asian trading session, EURUSD dropped to 1.06300 levels. 
• During the Asian trading session, GBPUSD continued to fall below the 1.19500 level. 

EURUSD chart analysis

During the Asian trading session, EURUSD dropped to 1.06300 levels. We are still moving slightly above that level, and the bearish pressure still does not allow us to consolidate better and start a recovery. We need a continuation of the negative consolidation and a drop below the 1.06250 level to see a breakout below.

After that, we could expect a further continuation of the decline to the 1.06000 support level. For a bullish option, we need a new positive consolidation and a move above the 1.06500 level. Then we need to hold above in order to have a better position for a new bullish impulse. Potential higher targets are 1.07000 and 1.07250 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD continues to fall below the 1.19500 level. This morning’s low was at the 1.19130 level. Bearish pressure is still very present, and we could expect the pair to continue sliding below the 1.19000 level. Potential lower targets are 1.18750 and 1.18500 levels.

For a bullish option, we need a new consolidation and a return above 1.20000. After that, we could think about a potential recovery of the pound.