EURGBP and EURCHF: EURGBP down on Monday to 1.84150
- During this morning’s Asian trading session, EURGBP was in retreat from the 0.84300 level.
- EURCHF is in a slight bullish consolidation for the third day in a row.
EURGBP chart analysis
During this morning’s Asian trading session, EURGBP was in retreat from the 0.84300 level. In the EU session, we saw a drop below the EMA 200 moving average to 0.84135. The Euro is under pressure to continue its retreat unless it returns above the EMA 200 moving average soon. Bearish momentum prevails today, and we could see a continuation of the bearish side in the US session.
Potential lower targets are 0.84100 and 0.84000 levels. With the return above the 200 EMA, we are still under pressure below the 0.84300 resistance zone. If we manage to move above, the chances of seeing growth to the bullish side increase. Potential higher targets are 0.84350 and 0.84400 levels. We would still be far from the July high there, but we were on our way to it.
EURCHF chart analysis
EURCHF is in a slight bullish consolidation for the third day in a row. During this morning’s Asian session, the pair was under pressure around the 0.96750 level. After that, we saw a descent to the 0.96564 level and the formation of a daily low. Soon after, the pair manages to stay there and recover to the 0.96700 level. We need an impulse above the 0.96750 level in order to return to the positive side above the weekly open price.
Potential higher targets are 0.96900 and 0.97000 levels. For a bearish option, EURCHF would have to go down to the 0.96500 level. We are very close to testing last week’s low. After that, we can expect an increase in bearish momentum and the creation of a new low. Potential lower targets are 0.96400 and 0.96300 levels.
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