GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price tested the key support 1.2580$ and bounced bullishly from there, to settle around the EMA50, which keeps our positive overview valid for the upcoming period, reminding you that our first target is located at 1.2700$.
• Breaching the mentioned level will confirm regaining the main bullish trend and head to achieve additional gains on the longer-term basis, while breaking 1.2580$ will push the price to achieve additional bearish correction that its next target reaches 1.2480$.

Expected Outcome

The GBPUSD price is expected to maintain its bullish momentum, with the first target at 1.2700$. A breach of this level would confirm a continuation of the main bullish trend, while breaking below 1.2580$ could lead to further bearish correction with the next target at 1.2480$.

Expected Trading Range

Between 1.2560$ support and 1.2720$ resistance.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price returns to test the key resistance 1.084$ after the clear decline that it witnessed in the previous sessions, noticing that stochastic loses the positive momentum clearly, approaching the overbought areas, waiting to motivate the price to resume the expected bearish trend on the intraday basis, which targets testing 1.0765$ as a next station.
• Therefore, we will continue to suggest the bearish trend for the upcoming period, and breaking the mentioned level will extend the bearish wave to reach 1.0645$ areas on the near-term basis, while holding below 1.0860$ represents major condition to achieve the waited targets.

Expected Outcome

The EURUSD price is expected to continue its bearish trend, with a potential target of 1.0765$. Breaking below this level could extend the bearish momentum towards 1.0645$ areas in the near-term, provided that the price remains below 1.0860$.

Expected Trading Range

Between 1.0750$ support and 1.0900$ resistance.