EURUSD finally broke to the upside: a move which was expected after a few days of sideways price action in a shape of a triangle pattern. The pair already passed the 1.3400 resistance level which now opens the door for 1.3500 or even 1.3550 level for the next few days. The trend is bullish as long as market trades above 1.3260. Meanwhile, any pull-back to 1.3350 should prove corrective.
GBPUSD
The pound fell to a new low against the USD and slowed down just 5 pips from 1.5750 projected level. Notice that pair now has five waves down from 1.6180: this is the first evidence of a coming bounce, especially if we respect the bullish divergence on the RSI. The larger pull-back however could prove corrective and may stop at 1.5900 swing level that will may react as a resistance.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
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