EURUSD
Short term sentiment remains positive despite Friday’s minor pullback to 1.4675 but the intra-day charts show signs of weakness since falling below 1.4750 support. Therefore, a break above 1.4750/70 is needed to re-initiate the intra-day uptrend. On a potential resume of the uptrend, objectives may be set around 1.4800 and 1.4845/50 resistance levels. On the lower side, intra-day support is formed by 1.4670 backed by 1.4580/00 lower. Current quote is 1.4716 @06:00 GMT
Support: 1.4700, 1.4670 and 1.4580/00
Resistance: 1.4750/70, 1.4800 and 1.4845/50
GBPUSD
Downside pressure intensified on Friday after breaking below 1.5950/60 – former support which may provide resistance on extended gains now. Interim resistance formed by an upward trend line is formed around 1.5890 and a potential break could open 1.5950/65. Short term sentiment is bearish due to Friday’s break down below 1.5950/60. As long as the 1.5950-1.6 region provides resistance, short term momentum will remain negative, favoring further selling. Current quote is 1.5858 @06:00 GMT
Support: 1.5800, 1.5750 and 1.5700
Resistance: 1.5890/00, 1.5950/65 and 1.6000
