EURUSD and GBPUSD: EURUSD is maintained at the 1.12400
- During the Asian trading session, EURUSD hovered around 1.12200 levels.
- During the Asian trading session, GBPUSD was slightly declining to 1.30500 levels.
EURUSD chart analysis
During the Asian trading session, EURUSD hovered around 1.12200 levels. At the beginning of the EU session, the index gains strength and starts to grow. We are now at the 1.12400 level, and soon we may be able to test the 1.12500 level. The euro is on a strong run and could continue to use it skillfully.
For a bullish option, we need a continuation of positive consolidation and a break above the 1.12500 level. After that, we need to stay up there in order to trigger further EURUSD growth with a new impulse. Potential higher targets are 1.12750 and 1.13000 levels.
We need a negative consolidation and pullback of EURUSD to the 1.12000 support level for a bearish option. A drop below would signal that the euro is starting to weaken and that a drop in the EURUSD is the next scenario. Potential lower targets are 1.11750 and 1.11500 level.
GBPUSD chart analysis
During the Asian trading session, GBPUSD was slightly declining to 1.30500 levels. We got support at that level at the beginning of the EU session, and now we are back at the 1.31000 level. The start of the week is calm for this pair, and later in the week, it will be interesting after the CPI report for the pound.
We need a negative consolidation and a new pullback below the 1.30500 level for a bearish option. Then, we would likely see a further decline and a visit to the 1.30000 support level. Potential lower targets are 1.29750 and 1.29500 levels. Additional support for the pound at the 1.29500 level is in the EMA50 moving average.
We need a positive consolidation and stabilization of the GBPUSD above the 1.31000 level for a bullish option. After that, we would have the opportunity to try to reach the 1.31500 level. Potential higher targets are 1.31750 and 1.32000 levels.
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