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EUR/USD
To open long positions for EURUSD, it is required:
Buyers were able to hold above 1.2303, and now all the attention is focused on a resistance of 1.2342, the breakthrough of which will lead to new weekly highs of 1.2383 and 1.2426, where I advise you to lock in profits. In case the euro declines during the second half of the day, I recommend that you rely on a rebound from 1.2255 for long positions.
To open short positions for EURUSD, it is required:
The formation of a false breakout at 1.2342 and a return to this level can lead to a correction of the euro towards the support area of 1.2303. A steadying below this range will lead to selling towards a stronger level of 1.2255, where I recommend locking in the profit. In the event of growth above 1.2342, it would be best to consider new short positions after a test at 1.2383, with the formation of a false breakdown in that level, or on a rebound from 1.2426.
GBP/USD
To open long positions for GBP/USD, it is required:
In the morning, buyers managed to work out all their targets. At the moment, you can count on buying the pound after a correction to the intermediate support of 1.4085, or open long positions immediately on the rebound from 1.4022. A break and consolidation above 1.4155 will lead to new annual highs of 1.4225 and 1.4284.
To open short positions for GBP/USD, it is required:
Sellers will try to form a false breakdown at 1.4155, which will lead to a correction towards the area of 1.4085. Only a break below this range can break the whole upward trend for the pound and return the GBP/USD pair to the support area of 1.4022. In the event of continued growth, you can consider short positions on a rebound from 1.4225 and 1.4284 with an outlook of 20-25 profit points.
Indicator description
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