Tuesday Nov 20th midday analysis -13.30 GMT

EurUsd moved higher from that trading range we’ve seen for the last few days, and once it broke the 1.4700/1.4735 resistance area it headed straight for the 1.4800 level. The projected bullish target on this move is at the 161.8 Fib line around the 1.4900 level; on the south side closest support is the confluence of former resistance area 1.4700/1.4735 which is also close to the 61.8 and 50.0 Fib retracement of the 1.4635-1.4800 leg up.

GbpUsd followed in Euro’s footsteps and gained more than 200 points until it found resistance at the 2.0650 level, since than it retraced to the 61.8 Fib line just under the 2.0600 round number and it’s once again heading higher, we have a calculated target at 2.0796.