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EUR/USD
To open long positions for EURUSD, you need to:
Buyers can return to the market after updating the larger support level, which is currently located in the level of 1.1683-1.1687. The formation of a false breakout and a return to this level will be a good signal to raise long positions in the euro. The expectation of growth is in the resistance area of 1.1729, the consolidation of which will continue the upward trend of the euro to a weekly high in the area of 1.1792. In case of a larger decline below 1.1687, I recommend buying immediately for a rebound from a level of 1.1634.
To open short positions for EURUSD, you need to:
I do not recommend selling the euro at current levels. Only at a correction and a return to a resistance range of 1.1729, with the formation of a false breakdown in that area, will indicate the presence of large players in the market who are betting on a further drop of the euro. To sell immediately for a rebound, I recommend only doing so after updating the weekly high in the level of 1.1792.
GBP/USD
To open long positions for GBPUSD, you need to:
False breakdown at a level of 1.3131 has maintained the upside potential for the British pound. However, there was no larger upward trend to update the highs of 1.3175 and 1.3206. While the pair is above 1.3131, you can count on the sustained growth of the pound. If the test is repeated with fixation below 1.3131, I recommend that you postpone buying to 1.3082.
To open short positions for GBPUSD, you need to:
Sellers will try to gain a foothold below 1.3131. Testing this level from the bottom up on the volume will be a good signal to raise short positions in order to update 1.3082 and 1.3047. If the trend movement continues, it is better to return to selling the pound when forming a false breakdown at 1.3175 or immediately to rebound from a larger resistance of 1.3206.
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