EURUSD and GBPUSD: EURUSD trying to break 1.09000 level

EURUSD chart analysis

During this morning’s Asian trading session, EURUSD was maintained above the 1.08900 level. With the start of the EU session, we see a new bullish impulse up to the 1.09000 level. We expect to see a break above and the formation of a new daily high in the coming hours. Then, it is necessary for the pair to try to stay up there. After that, we will create a good position for further continuation to the bullish side.

Potential higher targets are 1.09100 and 1.09200 levels. We need a negative consolidation and pullback to the 1.08850 level for a bearish option. With that step, we go below the daily open price. EURUSD will try to regain the EMA50 moving average support. If it fails to do so, it will fall below the 1.08800 level. Potential lower targets are 1.08700 and 1.08600 levels.

GBPUSD chart analysis

During this morning’s Asian session, GBPUSD moved in the 1.2750-1.27950 range. In the EU session, we see a bullish impulse pushing us to the 1.28000 level. The formation of a daily high increases the optimism that the pair could begin further growth to higher levels. Potential higher targets are 1.28100 and 1.28200 levels. This week’s high GBPUSD was at the 1.28176 level.

We need a negative consolidation and pullback of GBPUSD below the 1.27800 level for a bearish option. This takes us below the EMA50 moving average and increases pressure on the pound. Potential lower targets are 1.27700 and 1.27600 levels. Additional support in the 1.27600 zone is the EMA200 moving average.

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