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EUR/USD
To open long positions for EURUSD, it is required:
It is best to consider new long positions for the euro after updating and forming a false breakout at 1.2460, or after a second test and a consolidation above 1.2504, which will lead to the continuation of the upward trend in the area of 1.2558, where I recommend locking in profits. In the event of a decline towards the level of 1.2460, it is possible to open long positions for the euro on a rebound from 1.2426.
To open short positions for EURUSD, it is required:
As long as the trade is below 1.2504, the pressure on the euro will continue, which will lead to the renewal of the level of 1.2460. A steadying below this range will allow you to expect an update of a larger support level of 1.2426. In case of growth above 1.2504, selling the euro can immediately be done on a rebound from 1.2558.
GBP/USD
To open long positions for GBP/USD, it is required:
The retest with a steadying above 1.4062 will lead to the continued growth of the pound in the resistance area of 1.4129, where I recommend locking in profits. In the event of a decline in the pound in the afternoon, you can consider long positions after the test of 1.4005 or buy the GBP/USD immediately at a rebound of 1.3940.
To open short positions for GBP/USD, it is required:
Sellers are trying to work out the morning resistance level at 1.4062, and while the trade is below this range, you can count on a decline in the GBP/USD and an update of 1.4005. A steadying below this range will lead to a larger selling towards the area of 1.3940, where I recommend locking in profits. In case of growth above 1.4062, you can sell the pound immediately for a rebound from 1.4129.
Indicator description
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