EURUSD and GBPUSD: The euro is back above 1.06000 again

• During the Asian trading session, EURUSD gained support at the 1.05800 level and started a new bullish impulse. 
• During the Asian trading session, GBPUSD was down from 1.20600 to 1.20200. 

EURUSD chart analysis

During the Asian trading session, EURUSD gained support at the 1.05800 level and started a new bullish impulse. This impulse took us up to the 1.06200 level, with which we moved above the 1.06000 level. We now need to try to hold above 1.06000 if we want to see continued growth.

Potential higher targets are 1.06400 and 1.06600 levels. We need a new negative consolidation and a withdrawal of the euro below the 1.06000 level for a bearish option. This would give us the opportunity to test this morning’s support zone again. A break below would signal that we will see a continuation of the EURUSD pullback. Potential lower targets are 1.05600 and 1.05400 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD was down from 1.20600 to 1.20200. At the beginning of the European session, the pound began to recover and, with a bullish impulse, quickly returned above the 1.20600 level. Now we need to hold up there and continue the growth of GBPUSD with the next impulse.

Potential higher targets are 1.21000 and 1.21500 levels. We need a negative consolidation and a decline to this morning’s support level for a bearish option. A break below could further lower the pound. Potential lower targets are 1.20000 and 1.19500 levels.