Currency Technical Report (Source: Fxgreece)

EUR/USD

Resistance : 1,58801,5910-20/ 1,5950/ 1,5980/ 1,6020
Support : 1,5830-35/ 1,5800/ 1,5770/ 1,5745/ 1,5700

Comment : After high volatility in the beginning of the week and euro’s rise to new highs, the week closed below 1.5900, indicating that the consolidation between 1.5300 and 1.6000 is still valid. The week’s close and the candle that was formed in the daily chart, when euro reached 1.6020, indicate that the double top scenario is still valid, but there are no signs that confirm the trend reversal yet. For now, lower tops after 1.6040 and consolidation below 1.5900 will probably be formed, as the market still seems indecisive...
A clear hourly close below 1.5800 and if the area of 1.5850 turns into a resistance, it would indicate that bears dominate in the beginning of the week and possible targets will be at 1.5750 and 1.5680-00 area.


GBP/USD

Resistance : 2,0010/ 2,0035/ 2,0060/ 2,0080/ 2,0110
Support : 1,9975/ 1,9950/ 1,9925-30/ 1,9880/ 1,9850

Comment : There is no significant change from our previous reposts. The false break scenario is followed, despite high volatility and the trend remains bearish. We will change our scenario above 2.0100. First intraday support emerges at 1.9900-20. Next target will be the area of 1.9840-50, while the lower part of the basic channel will indicate the area of 1.9780-9820 as next target...