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EUR/USD
To open long positions for EURUSD, it is required:
Buyers are trying to cling to 1.2347, which will allow them to anticipate a return to the resistance area of 1.2382 and further growth with the update of new weekly highs in the area of 1.2430, where I recommend locking in profits. In case the euro further declines in the afternoon, I advise you to consider new long positions only after updating the support at 1.2309.
To open short positions for EURUSD, it is required:
A retest and consolidation below 1.2347 will lead to a further sell-off of the euro with an exit to a larger support level of 1.2309, where I recommend locking in profits. Good data on inflation in the US can cause a collapse in the pair which is already in the area of 1.2264. In the event of growth above 1.2382, it is best to consider short positions for the euro at a rebound from 1.2430.
GBP/USD
To open long positions for GBP/USD, it is required:
Buyers have so far lost the level of 1.3868, and relying on long positions on the pound would be best done after updating a larger support level around 1.3800. Returning and steadying above the resistance of 1.3868 will be a good signal to increase long positions with the aim of re-testing 1.3917 and with an exit at 1.3983.
To open short positions for GBP/USD, it is required:
As long as the trade is below 1.3868, we can expect further depreciation of the pound towards the support area of 1.3800, a breakthrough which can only take place if good inflation data are released in the US, which will lead to a selling of the GBP/USD towards the area of 1.3707, where I recommend locking in profits. In case of growth above 1.3868, short positions are best returned to a rebound of 1.3983.
Indicator description
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