Eurusd/gbpusd - page 2276
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GBP/USD dropped after the fundamentals yesterday, but it could not break out below the long-term support at 1.3460 and eventually bounced off from it again. Currently the pair is at 1.3580 and it may test the resistance at 1.3600.
Eur/Usd opens the week with a bearish gap.
Lack of progress of Brexit negotiation bring the Gbp/Usd correction lower, found support level around 1.3440/50 zone.
Apart from the shooting star candlestick on the daily time-frame at 1.3655 GBP/USD also formed a spinning top candlestick at the same level on the weekly time-frame, further confirming that there will likely be a new move to the downside even though the pair is still testing the support at 1.3450.
The GBPUSD tried to reache the 1.3600 level, but it lost its momentum, dropping below the 1.3500 level. The next support could be at the 1.3300 level, but the pair seems directionless for now.
The Euro is in a downfall this week. I hope the trend gets back.
EUR/USD found some support at 1.1715 and bounced off from it. That said, the overall move to the downside may not be over. A breakout below 1.1715 could lead to a further drop towards 1.1620, which is the (MA)89 indicator on the daily time-frame.
GBP/USD bounced off from the support at 1.3340 and broke out above 1.3375, which is the (MA)89 indicator on the four-hour time-frame. The rally will probably continue towards 1.3500.
The GBPUSD is really retracing to the downside, but the pullback may be over soon and the pair may go back to its bullish trend. The 1.3500 level may act as resistance, but in order for the bullish trend to come back, it must break above the 1.3600 level.