EURUSD and GBPUSD: EURUSD remains below 1.10000

• During the Asian trading session, we saw EURUSD pull back to the 1.90700 support level.
• During the Asian trading session, GBPUSD dropped to support at the 1.27000 level.

EURUSD chart analysis

During the Asian trading session, we saw EURUSD pull back to the 1.90700 support level. At the beginning of the EU session, the pair managed to get support at that level and tried to consolidate at that level. A minor bullish impulse moves us to 1.09870, and we are slowly starting to recover.

We can expect to see EURUSD again at the 1.10000 level, and we have additional pressure in that zone in the EMA50 moving average. Then we need a break above and try to hold above there. Potential higher targets are 1.10100 and 1.10200 levels.

We need a negative consolidation and a drop below this morning’s support for a bearish option at the 1.90700 level. After that, we could expect to see a continuation of the EURUSD pullback. Potential lower targets are 1.09600 and 1.09500 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD dropped to support at the 1.27000 level. We get support at that level and move up to the 1.27450 level. There,  we have less resistance and are pulling back to the 1.27350 level. We need a break above the resistance zone to continue the recovery.

Potential higher targets are 1.27500 and 1.27750 levels. We will have additional pressure in the zone around 1.27800 levels in the EMA50 moving average. We need a negative consolidation and a drop below this morning’s support at the 1.27000 level for a bearish option. A break below would mean we would see further declines and visits to lower support levels. Potential lower targets are 1.26800 and 1.26600 levels.