Monday's Dec 3rd midday analysis -13.00 GMT
EurUsd retested the 1.4700 level now turned into resistance and has maintained just above last week’s lows around the 1.4650 area. The bearish bias is still valid and we expect a move towards the 1.4600 level later in the day.. we have some US data out at 13.30 GMt that could have an impact but a move south is still in play.
GbpUsd traded inside Friday’s range so far, testing the 2.0650 resistance in the European session. Although it printed a lower low today the pair doesn’t seem to have enough momentum to make a stronger move south, once again we have to keep an eye out for the 13.30 GMT US data that can increase the volatility and thus support a bigger move.