Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right

Economy

EURUSD and GBPUSD: GBPUSD continues to recover to 1.22000

EURUSD and GBPUSD: GBPUSD continues to recover to 1.22000

The pair EURUSD is in an upward trend after falling on Tuesday to the 1.04485 level.
On Wednesday, GBPUSD fell to a new six-month low at 1.20372.

EURUSD chart analysis

The pair EURUSD is in an upward trend after falling on Tuesday to the 1.04485 level. A three-day high was formed last night at the 1.05520 level, and during the Asian trading session, we had a pullback to support at the 1.05320 level. We managed to get support at that level, and now we see a bullish impulse and the start of a new bullish consolidation. At the current level, we are also testing the EMA50 moving average, and we need a break above it for further continuation to the bullish side. Potential higher targets are 1.05600 and 1.05800 levels.

We need negative consolidation and drop EURUSD to the 1.05000 support level for the bearish option. A breakthrough below that zone would affect the pair continuing to pull back, looking for the next support in the previous low. The inability to maintain at that level will create a breakthrough and the formation of a lower low. The potential lower targets are 1.04400 and 1.04200 levels.

GBPUSD chart analysis

On Wednesday, GBPUSD fell to a new six-month low at 1.20372. After that, he managed to consolidate at that level and initiate a new bullish consolidation. We are now within reach of reaching the 1.22000 level. We have additional support in the EMA50 moving average and the zone around the 1.21750 level. We now expect to see the pound continue to recover by rising to higher levels. Potential higher targets are 1.22200 and 1.22400 levels.

We need a negative consolidation and a drop in GBPUSD to 1.21500 levels for a bearish option. After that, we would be forced to go down to support at the 1.21000 level. A break below would take us back to the previous low for testing. Potential lower targets are 1.20500 and 1.20000 levels.

 

The post EURUSD and GBPUSD: GBPUSD continues to recover to 1.22000 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    By the IoT Analytics team. A new report from IoT Analytics highlights eight notable trends helping to advance and promote digital twins. Four of...

    Stock

    A second delivery driver has died in Texas amid record-high temperatures, just as the regulation of workplace heat safety enters a new legal limbo...

    Investing

    Vermont Sen. Bernie Sanders, 81, defended President Biden, 80, against voter critiques that he lacks the energy and vigor to continue leading the United...

    Investing

    Political advisers to both President Biden and Vice President Harris were reportedly annoyed with Democrat California Gov. Gavin Newsom over a planned debate with...

    Disclaimer: thefreedomright.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2020-2024 The Freedom Right. All Rights Reserved