EUR/USD Technical View
EurUsd traded inside a very tight range on Monday but during today’s Asian session and early European trading hours the pair just shot up, broke through the 1.4700/1.4735 resistance area and printed a new record high at 1.4790. We mentioned in our previous commentaries that the bullish momentum has slowed down and this move comes as a surprise especially due to its timing and strength. The resistance levels ahead is at the 1.4800 round number with the 1.5000 becoming once again a valid bullish target.
GbpUsd Technical View
Cable traded around the 2.0500 level for the better part of Monday’s session and moved higher in today’s Asian session already covering more than 200 points and reaching the 2.0650 resistance level. We mentioned that a move towards the 2.0650 will make us more confident in bullish move but we didn’t expect it to be that fast; looking at the daily charts below we can see that once the pair gets above 2.0650 the next resistance and intermediary target is the 2.0775 area on the route to this years record highs. Conversely a new slip towards 2.0500 will bring the 2.0365 support once again to our attention as the pair might enter into a consolidation period.