EURUSD and GBPUSD: The market is quiet during the holidays
- There should be no major movements on the chart today and tomorrow.
- During the Asian trading session, the pair GBPUSD moved from 1.20500 to 1.20700 level.
EURUSD chart analysis
There should be no major movements on the chart today and tomorrow. Today is the second day of Christmas; in most western countries, it is a non-working day, and the market is officially closed. There are certain changes in the EURUSD exchange rate because transactions take place in the rest of the world but with reduced intensity. If we look at the chart, we see that the pair EURUSD is still moving in lateral consolidation for the last week. On the upper side, we have resistance at 1.06500, while on the lower side, we have support at the 1.05750 level. Pair EURUSD has been in a bullish trend since October, and we could also expect a continued recovery of the euro next year.
GBPUSD chart analysis
During the Asian trading session, the pair GBPUSD moved from 1.20500 to 1.20700 level. It’s also Christmas Day in Britain, and it’s a non-working day so we can expect a quiet day on the chart today. Looking at the chart, last Thursday’s GBPUSD dropped to the 1.20000 level. Since then, we have been bullish, and a minor recovery is visible. We need a break above this descending channel and the formation of a new higher high above the 1.215000 level. This would improve the chances of seeing a potential continuation of the GBPUSD recovery. We need to turn it down again for a bearish option and visit last week’s low at the 1.20000 level. A breakout of the pound below would mean we could see further descent to the next low around the 1.19000 level.
