Despite the overall negativity, GBP/USD pair is trying to rise, taking advantage of failure breaching down 1.3105 support level previously.
Moreover, ADX indicator did not prove positivity, and although Relative Strength Index is trading around 30 points, but no bullish rebound signs appear. Therefore, we should not rule out a large fluctuation with attempts to rise, but the overall negativity will continue as long as the pair trade stabilized below 1.3635 over the week. Today, trading below 1.3515 will keep the negativity.
- Support: 1.3105 – 1.3000 – 1.2875
- Resistance: 1.3375 – 1.3515 – 1.3680
Direction: Negative below 1.3515, targeting 1.3105 and 1.3000, as long as trading below 1.3835
EUR/USD pair is trading around 50% Fibonacci level located at 1.1070; this level will be the key for determine the trends during intraday trading today.
There are signs of significant weakness in the trend-direction according to the ADX, accompanied with sideways trading for RSI despite trading below the 50-point. Therefore, we prefer to be neutral today, as we need more technical signs to prove the trend.
In the longer term, negativity will continue below the price of 1.1200, but neutrality is a favorite today until the emergence of better signals to confirm the trend.
- Support: 1.1000 – 1.0935 – 1.0755
- Resistance: 1.1070 – 1.1150 – 1.1200
Direction: Neutral