EURUSD has a chance to reach 1.09000, what about GBPUSD?

EURUSD chart analysis

During the Asian trading session EURUSD was maintained around 1.08900 levels. With the beginning of the EU session, the euro strengthens and the pair slowly moves to the bullish side. We are now at 1.08960 and getting closer to the 1.09000 level. We could have a higher resistance in that zone in the EMA200 moving average. 

We need a stronger impulse to move above and with the support of EMA200 to continue further growth. Potential higher targets are the 1.09100 and 1.09200 levels. We need negative consolidation and pullbacks to this morning’s support at the 1.08800 level for a bearish option. A re-post to that zone could easily push EURUSD below to a new daily low. Potential lower targets are the 1.08700 and 1.08600 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD moved in the 1.27250-1.27400 range. At the start of the EU session, we see a break above the Asian high and a bullish impulse that could push the pound to higher levels. We are now at 1.27450 and close to the 1.27500 level and the EMA50 moving average. Moving above, we go to 1.27600 and meet the EMA200 moving average.

If we manage to stay above, we have the opportunity to continue on the bullish side. Potential higher targets are the 1.27700 and 1.27800 levels. We need a negative consolidation and a return to the 1.27250 support level for a bearish option. There, we are testing the Asian low, and a drop below it brings us to a new daily low and thus confirms the bearish momentum. Potential lower targets are the 1.27200 and 1.27100 levels.

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