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EURUSD and GBPUSD: The Euro pulls back to 1.09000

  • During the Asian trading session, EURUSD retreated to 1.08850 levels.
  • During the Asian trading session, GBPUSD moved between 1.24400 and 1.24800. 

EURUSD chart analysis

During the Asian trading session, EURUSD retreated to 1.08850 levels. The pair manages to find support at that level and recovers to the 1.09000 level. We are currently consolidating around that level. We need a positive consolidation and a jump above the 1.09100 level for a bullish option. Then we need to hold on up there in order to start a further recovery with a new bullish impulse.

Potential higher targets are 1.09250 and 1.09500 levels. For a bearish option, we need a negative consolidation and a drop to support the 1.08850 level. A break below would help us see a continuation of the pullback. Potential lower targets are 1.08700 and 1.08500 levels.

EURUSD Charts Analysis

GBPUSD chart analysis

During the Asian trading session, GBPUSD moved between 1.24400 and 1.24800. We are currently in the middle of that range with slight bearish pressure and leaning toward a support level. We need a negative consolidation and a drop below the 1.24400 support level for a bearish option. Potential lower targets are 1.24200 and 1.24000 levels.

Additional support at the 1.24000 level is in the EMA50 4h moving average. We need a positive consolidation and a return above the 1.24800 level for a bullish option. Then we need to hold on there if we want to continue towards the 1.25000 level. Potential higher targets are 1.25250 and 1.25500 levels.

GBPUSD Chart Analysis



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