GBP/USD is testing the resistance at 1.3300,
which coincides with the (MA)89 indicator on the weekly time-frame. If
it breaks out above that level there will likely be a further move to
the upside towards 1.3500 - 1.3520.
The euro lost some despite the negative US news.
Risk remains on the upside, Gbp/Usd consolidate just below 1.3300 level and found immediate resistance at 1.3330.
Eur/Usd has just recovered the small bearish gap, I'm expecting the pair might continue it's upward trend as long as it's above the support level 1.1670.
EUR/USD continues consolidating around 1.1800. On
the daily time-frame there's a spinning top candlestick at that level,
which is a signal for indecision and not, necessarily, for a reversal. The indecision will probably continue until the fundamentals later this week.
GBP/USD bounced off from 1.3340 and is currently
testing the support at 1.3155. A breakout below that level will likely
lead to a drop towards 1.3090, which is the (MA)89 indicator on the
daily time-frame. On the other hand, if it bounces off from 1.3155 it
could rally back to 1.3250.
EUR/USD almost reached 1.1800 and it's still very bullish for now. A breakout above 1.1800 will probably lead to a rally to 1.1870.
Very tricky to trade lately. I'm still expecting the bullish rally to continue.
So do I. It broke out above 1.1800, a breakout above the last high at 1.1880 will likely lead to a further move up to 1.2000.
GBP/USD bounced off yet again from the (MA)89
indicator on the daily time-frame at 1.3090. That said, it's doubtful it
will break out above 1.3200 before the market closes for this week.