EUR/USD Current price: 1.2819
View Live Chart for the EUR/USD
Risk sentiment has been supportive for EUR/USD Friday, with European stocks recovering ground and pressures on periphery bonds easing. However, EUR/USD trades little changed heading into the American session after the latest recovery attempt was capped by the 1.2840 area. Technically speaking, short-term charts look constructive although early strength is fading, suggesting the pair may enter a consolidation phase. EUR/USD needs a clear break above 1.2880 to confirm an upward move, targeting the 1.2960 area. On the other hand, loss of 1.2700/10 10- and 20-day SMAs cross could open the way for test of the 1.2620/00 zone.
Support levels: 1.2840, 1.2882, 1.2900
Resistance levels: 1.2780, 1.2700, 1.2623
GBP/USD Current price: 1.6101
View Live Chart for the GBP/USD
GBP/USD extended its corrective move beyond 1.6100 Friday also supported by the positive mood. However, short-term technical indicators are losing steam also pointing for some consolidation. Cable needs a decisive break above 1.6125 (Oct 13 & 17 highs) to confirm short-term recovery and pave the way to 1.6165 (21-day SMA) en-route toward 1.6225 (Oct 9 peak). On the flip side, a break below 1.6025 may risk another test of 1.5900 and 1.5873 (cycle low).
Support levels: 1.6125, 1.6165, 1.6180
Resistance levels: 1.6025, 1.6000, 1.5940
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