EUR/USD pair is trading in sharp fluctuations around 1.1070 level, and trading below this level presented by 50% Fibonacci correction may be the reason for the extension of the downside move over intraday basis.
Today, we will need to see a breaching of 1.0935 support level to confirm bearishness over intraday basis, where stability below this level will open the door for more bearishness.
Support: 1.0755 – 1.0935 – 1.1000
Resistance: 1.1200 –1.1150 – 1.1070
Direction: negative below 1.1200, targeting 1.0940 and 1.0755, as long as trading below 1.1200.
GBP is trading below 1.3515 presented of 127.2% retracement, and trading below this level may be a reason to keep the possibility of extension of the downward trend.
Target price located at 1.3105, while a breaching of this level will cause further downward trend toward the psychological barrier 1.3000 at least. Only a breakthrough of 1.3835 will weaken the potential negativity, but we would prefer to see the pair trading below 1.3680 to keep the bearishness.
- Support: 1.3300 – 1.3210 – 1.3105
- Resistance: 1.3515 – 1.3680 – 1.3835
Direction: negative below 1.3515, targeting 1.3105 and 1.3000, as long as trading below 1.3835.