Hello traders, this is intraday technical view- 13.30 GMT
EurUsd found some support in Monday’s US session and it started a retrace towards the 50. Fib Line of the move down. In today’s Asian session we witnessed the pair making the most of today’s move while in the european trading hours, as seen on the 1hr chart below, we saw a retest of a trendline which also coincides with the middle of todays’ range of 113 points. A succesfull break above today’s high hasa projected target of 1.4686 just a few points below the 1.4700 round number.
GbpUsd started to recover some of the loses from the previous days after it found support just above the 2.0500 level; it moved higher all the way through asian and UK session towards the 200 MA (on the 1 hour timeframe) and it looks like its found resistance there. The short term bias is bearish and we expect the pair to move below 2.0700 and trade inside today’s range for the rest of the day.