EURUSD
The euro maintains a bid top against the dollar and trades into a narrow range above the 1.4300 mark at the time of this report. Short term sentiment is positive and will remain intact while trading above 1.4200/30. Intra-day momentum is neutral since yesterday's European session due to the U.S. Labor Day holiday. Upside barriers are noticed at 1.4350 then 1.4400. Important resistance resided at 1.4450. Since recent gains achieved during the last 4 days are still below the top side zone of 1.4350-1.4400 reached in the 2'nd half of August, a confirmation of current uptrend may occur by breaking above current range - establishing support above 1.4400. Upside is slightly favored for now. Current quote is 1.4345 @06:00 GMT
Support: 1.4300, 1.4250 and 1.4200/30
Resistance: 1.4350, 1.4400, 1.4450 and 1.4500
GBPUSD
Yesterday's 1.6430 calls for a decline since that's the 61.8% of 1.6620-1.6110. Price already pulled back 100 points, reacting to yesterday's test on the mentioned fib resistance. Intra-day sentiment is slightly bearish. While above the 1.6300, I maintain my bullish view on GBP. However, current recovery could be a simple correction therefore a clear break above 1.6400 would confirm the uptrend and the pair would gain strength. Potential rallies are expected to face solid selling interest into the 1.6450-1.6500 region. Current quote is 1.6371 @06:00 GMT
Support: 1.6300, 1.6250 and 1.6200
Resistance: 1.6400, 1.6450 and 1.6500
