- During the Asian trading session, the EURUSD oscillated around the 1.09000 levels.
- GBPUSD’s slide was halted yesterday at the 1.22000 level.
EURUSD chart analysis
During the Asian trading session, the EURUSD oscillated around the 1.09000 levels. We now see further bullish momentum that could trigger a recovery in the Euro. The pair has already moved towards 1.09250 and we could expect to find ourselves at the 1.09500 level soon. The big picture tells us that we are still in an uptrend. The highest potential targets are the 1.10000 and 1.10500 levels.
For a bearish option, we need a negative consolidation and a further pullback of the Euro below the 1.09000 level. After that, we could see a further decline and a drop to the support at the 1.08500 level. An important support zone at 1.08000; Below that, we are likely to see a stronger EURUSD pullback to the next lower support.
GBPUSD chart analysis
GBPUSD’s slide was halted yesterday at the 1.22000 level. During the Asian session, the pound manages to hold that level and start a bullish momentum that takes us to the 1.22500 level. Currently, we now have resistance at that level, and the pair is again leaning to the downside. For a bearish option, we need negative consolidation and a retest of support at the 1.22000 level.
A break of the pound below would make the picture even worse. The lower possible targets are the 1.21500 and 1.21000 levels. We need positive consolidation and a return to the 1.23000 level for a bullish option. This would take us back to the support area from last week. The highest potential targets are the 1.23500 and 1.24000 levels.
