Currency Technical Report

EUR/USD

Resistance : 1,5960-70/ 1,6000-15/ 1,6040/ 1,6080-90
Support : 1,5910/ 1,5570-80/ 1,5820-30/ 1,5750

Comment : Euro reached new all time highs (1,6040), without any clear break. Despite bulls’ efforts to keep prices above 1,6000, bears gained momentum leading euro back below 1,5900 area.
Yesterday’s retracement didn’t show any clear reversal signs and the formation of a sideways consolidation below yesterday’s tops, seems as the most possible scenario...
Important intraday support is found at 1,5880-90 and 1,5860-65, at previous lows. Resistance emerges at 1,5960-70 and 1,6000-15( retracements should be limited today in the second area)


GBP/USD

Resistance : 2,0070-80/2,0130/ 2,0160/ 2,0200
Support : 2,0020-30/ 1,9980/ 1,9950/ 1,9920

Comment : Resistance at 2,0000 was easily breached and the pound moved until the upper part of the basic upward channel at 2,0150-60. As long as prices remain above 2,0000, higher targets at 2,0200 and 2,0400, are still in the game...
A daily close below 2,0000 would prove that yesterday’s move was a false break and a possible target would be at 1,9780-00 area...

(SOURCE: Fxgreece)