EURUSD and GBPUSD. The euro is under pressure at 1.06500

• During the Asian trading session, EURUSD remains under pressure at the 1.06500 level.
• Pair GBPUSD is retreating from yesterday’s high of 1.21500 level.

EURUSD chart analysis

During the Asian trading session, EURUSD remains under pressure at the 1.06500 level. The pair continued to slide even lower, and the previous low was at the 1.06300 level. If the current consolidation continues, we could soon find ourselves at the 1.06000 level.

Increased pressure at that level could lead to a breakout below and a continuation of the bearish trend. Potential lower targets are 1.05500 and 1.05000 levels. For a bullish option, we need a return above 1.07000, and only then could we think about continuing the recovery.

GBPUSD chart analysis

Pair GBPUSD is retreating from yesterday’s high of 1.21500 level. During the Asian session, there was a negative consolidation and a pullback below the 1.21000 level. There is a high probability that we will see a continuation of the pullback, and the targets are 1.20000 and 1.19500 levels.

We need a new positive consolidation and a return to the 1.21500 level for a bullish option. Then we need a breakout above and try to hold up there. With the next bullish impulse, we would start a further recovery. After that, the potential higher target is the 1.22000 level.