EURUSD at 1.08000 Level: The EU Session Stop and Resistance
- During the Asian trading session, EURUSD rose to 1.08000 levels.
- During the Asian session, GBPUSD successfully held above the 1.26250 level.
EURUSD chart analysis
During the Asian trading session, EURUSD rose to 1.08000 levels. With the beginning of the EU session, we stop at that level and have resistance to continue the previous bullish consolidation. The pair remains above the weekly open price and, with the help of the EMA200 moving average, is maintained at the current position. If we plan to start a further recovery, we would have to move to the 1.08100 level.
This would make room for a better consolidation above the 1.08000 level. Potential higher targets are 1.08200 and 1.08400 levels. We need a negative consolidation and pullback below the 1.07800 level for a bearish option.
Below that level, the pair would be under pressure to start a further pullback, looking for new support at lower levels. Potential lower targets are 1.07600 and 1.07500 levels.
GBPUSD chart analysis
During the Asian session, GBPUSD successfully held above the 1.26250 level. At the beginning of the EU session, we saw a bullish attempt to reach the 0.26550 level, but a retreat into the Asian movement zone soon followed.
The pound is now under pressure to fall below the Asian low, opening the door for a bearish option. A break below the 1.26200 level would indicate such a scenario. Potential lower targets are 1.26000 and 1.25800 levels.
We need a positive consolidation and a move to the 1.26600 level for a bullish option. This would bring us back to the bullish side and above the EMA200 moving average. With the support of the moving average, the pair could start a further recovery more relaxed. Potential higher targets are 1.26700 and 1.26800 levels.
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