EURUSD
Not much has changed across the board while I've been on my annual vacation during the last two weeks. Current euro's pullback from 1.4845 seem corrective and the euro has found support on the median retracement level of September's upward move from 1.4190 to 1.4845 - at 1.4520. Short term momentum remains negative despite the minor recovery from 1.4500/20 to current levels near 1.4650. A daily bar close above 1.4700 would re-initiate the uptrend. Intra-day momentum is positive and will remain intact as long as 1.4600 provides support on pullbacks. Current quote is 1.4645 @06:10 GMT
Support: 1.4600, 1.4550/65 and 1.4500/20
Resistance: 1.4650, 1.4700 and 1.4750
GBPUSD
The low of June have been under pressure recently as the Pound has weaken against the dollar, extending its decline from the 1.67 region. Current recovery from 1.5800 to 1.6 is not enough to signal a change in sentiment and downside bias remains intact as long as the Pound trades below the 1.62 - 1.63 region. Intra-day studies are bullish though and first important resistance is seen at 1.6125 - last week's top side. Current quote is 1.6011 @06:10 GMT
Support: 1.5900, 1.5850 and 1.5800
Resistance: 1.6050, 1.6100/25 and 1.6200
