EURUSD and GBPUSD: The Euro is still around the 1.09500
During the Asian session, EURUSD moved around 1.09500 levels.
During the Asian trading session, GBPUSD finds support at the 1.24200 level.
EURUSD chart analysis
During the Asian session, EURUSD moved around 1.09500 levels. Now we see a bullish impulse and EURUSD jump to the 1.09750 level. Yesterday we had resistance at the 1.09900 level, and today, we could test that level again. The pair remains above the EMA50 4H moving average, which further gives the strength to continue its growth. A potential higher target is the 1.10000 level. We need a pullback below the support at the 1.09500 level for a bearish option. A break below that level and below the EMA50 could further pressure the EURUSD down to the previous support level. Potential lower targets are 1.09250 and 1.09100 levels.
GBPUSD chart analysis
During the Asian trading session, GBPUSD finds support at the 1.24200 level. At the beginning of the EU session, there was an increase in volatility in the market, and GBPUSD had a bullish impulse, then a bearish retreat, and again a new bullish impulse. For a bearish option, we need a break above the 1.24500 level and stay up there in order to consolidate there. With a new impulse, we could initiate further growth and the formation of a new higher high. Potential higher targets are 1.24750 and 1.25000 levels. We need a negative consolidation and a new pullback at support 1.24200 levels for a bearish option. A break below could send GBPUSD further lower. Potential lower targets are 1.24000 and 1.23750 levels.
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