EURUSD and GBPUSD: The Euro is hovering around 1.05500
- During the Asian trading session, EURUSD dropped to 1.05328 levels.
- During the Asian trading session, GBPUSD falls to 1.19225 levels.
EURUSD chart analysis
During the Asian trading session, EURUSD dropped to 1.05328 levels. After this, the euro manages to get rid of the bearish pressure and start a recovery to the 1.05600 level. If we were able to reach the 1.05700 level and consolidate there, we would have a better position for the next bullish impulse and continued recovery.
Potential higher targets are 1.06000 and 1.06200 levels. We need a negative consolidation and a new euro pullback to this morning’s support level for the bearish option. A break below would confirm a continuation to the bearish side. Potential lower targets are 1.05250 and 1.05000 levels.
GBPUSD chart analysis
During the Asian trading session, GBPUSD falls to 1.19225 levels. Then the pound manages to gain support at that level and initiates a bullish impulse. The momentum took us up to the 1.19850 level. For now, that is today’s high, and the pound retreats to the $1.19650 level. We need a positive consolidation and a break above the 1.20000 level for a bullish option. After that, we need to stay up there in order to try to start a further recovery.
Potential higher targets are 1.20250 and 1.20500 levels. We need a negative consolidation and a new drop to the 1.19225 support level for a bearish option. A break below would extend the bearish option. Potential lower targets are 1.19000 and 1.18250 levels.
