Monday's Jan 14th midday analysis -13.00 GMT

EurUsd pushed higher and got above 1.4900 so far in today’s trading session and although at the moment is trading just a few points below that it has built up some bullish short term momentum, perhaps enough to make it to the 1.5000 zone in the next few days.

GbpUsd moved also higher, but with little momentum covering only 70 points from the Asian low to the early UK session high. Trading above 1.9600 is hard the pair having some tough resistance to break at 1.9650 which is also a former low from early this year and also is the 50% Fibonacci retracement of the 1.9830/1.9480 down move.