EURUSD and GBPUSD: The Euro is consolidating around 1.95000
- The EURUSD formed a new higher high yesterday at the 1.09734 level.
- During the Asian trading session, GBPUSD hovered around the 1.25000 level.
EURUSD chart analysis
The EURUSD pair formed a new higher high yesterday at the 1.09734 level. During the Asian trading session, EURUSD moved in the range of 1.09500-1.09700. We currently see pressure on the euro increasing, and we could see a break below 1.09500 and a further pullback. If such a scenario happens, the potential lower targets are 1.09250 and 1.09000. We need a positive consolidation and a return to the 1.09700 level for a bullish option. This would put pressure on the upper resistance zone. The euro breaking above and staying higher could push the pair higher. Potential higher targets are 1.09800 and 1.10000 levels.
GBPUSD chart analysis
During the Asian trading session, GBPUSD hovered around the 1.25000 level. Now we see a bearish picture for the pound and a pullback to the 1.24750 level. To continue, we need a negative consolidation and a break below the support at the 1.24600 level. Potential lower targets are 1.24400 and 1.24200 levels.
We need a positive consolidation and a return above the 1.25000 level for a bullish option. Then we need to hold up there if we want to see continued GBPUSD growth. Potential higher targets are 1.25250 and 1.25500 levels.
