GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price bounced downwards strongly yesterday, as it attacked $1.2700 level and attempted to confirm breaking it, opening today with additional decline to surpass this level and hint turning to decline in the upcoming sessions, to head towards visiting $1.2630 followed by $1.2580 levels as main negative stations.
• Therefore, we expect to witness more bearish bias today, noting that trading above $1.2700 again will reactivate the positive scenario and lead the price to achieve new gains that reach $1.2893.

Expected Trading Range

Between $1.2600 support and $1.2750 resistance.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price faced clear negative pressure yesterday to break the bullish channel’s support line and settle below it, and by taking a deeper look at the chart, we find that the price completed forming a double top pattern that supports the chances of continuing the decline and achieve bearish correction for the rise that started from $1.0600 areas, paving the way to achieve negative targets that start by breaking $1.0780 to head towards $1.0713 followed by $1.0670 levels.
• Therefore, the bearish bias will be suggested in the upcoming sessions, noting that breaching $1.0840 will stop the negative scenario and lead the price to regain the bullish track again.

Expected Trading Range

Between $1.0710 support and $1.0850 resistance.