Eurusd/gbpusd - page 2283
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If EURUSD manages to form a pattern of double bottom around the range of 1.1700 and 1.1600 in the daily timeframe then a possible trend reversal upside will happen.
EUR/USD finally broke out above the resistance at 1.1680 and it is still very bullish. A breakout above 1.1800 as well could lead to a further move to the upside towards 1.1870.
EUR/USD bounced off from 1.1860. Now the question is whether this is the end of the move to the upside or the pair will break out above that level. A breakout could lead to a new rally to 1.1900 or even to 1.2000.
EUR/USD bounced off from 1.1860 and considering the shooting star candlestick on the daily time-frame at that level it could retrace back to the support at 1.1670, but only a breakout below that level would mean that the overall move to the upside is over.
The GBPUSD keeps testing the 1.3200 level and the lows of the daily candles are getting higher, showing us that the bullish pressure is buiding up around that level. A breakout of the 1.3200 level could take the pair to the 1.3300 zone.
GBP/USD is still consolidating sideways, but the pair may test the resistance at 1.3300 again next week. The question is whether there will finally be a breakout above that level.
As long as Eur/Usd stay above 1.170, the pair remains bullish in the long-term. Immediate support can be found at 1.1720 level.
Gbp/Usd continue ranging between 1.302 and 1.325 with limited upward strength. The market continue to focus on Brexit.
After a few days of consolidation the shooting star candlestick at 1.1860 on the daily time-frame finally proved to be a valid signal for a move to the downside and the pair started falling. The closest target is likely around 1.1680, which is the (MA)89 indicator on daily time-frame.
The EURUSD has found a good resistance at the 1.1800 level, but it has to break below the 1.1700 level in order to go back to its bearish channel. Above the 1.1800 level, its next resistance could be the 1.1900 leve.