EURUSD and GBPUSD: EURUSD falls to the 1.07770 level

• During the Asian trading session, EURUSD fell to 1.07768 level, forming a two-month low.
• During the Asian session, GBPUSd fell to 1.25600 levels.

EURUSD chart analysis

During the Asian trading session, EURUSD fell to 1.07768 level, forming a two-month low. We are currently managing to stay at that level, and the euro stopped the decline to lower levels. Now, we could expect to see some recovery of the euro and a move of the EURUSD to the 1.08000 level. Then, we need to hold on there before turning to the bullish side. Potential higher targets are 1.08200 and 1.08400 levels.

We need a negative consolidation and a drop below the support at the 1.07770 level for a bearish option. That would be a sign of continuation on the bullish side. Potential lower targets are 1.07600 and 1.07400 levels. Thus, we would return to the support zone from the beginning of June.

GBPUSD chart analysis

During the Asian session, GBPUSd fell to 1.25600 levels. The pound’s fall is stopped there, and we see an attempt to recover with a new positive consolidation. We need to return to the 1.26000 level and try to hold there. If we succeed in that, we will have the opportunity to break through and continue our recovery. Potential higher targets are 1.26200 and 1.26400 levels.

We need a negative consolidation and a drop below the support at the 1.25600 level for a bearish option. A pullback below leads to forming a new low and confirming a bearish option. Potential lower targets are 1.25400 and 1.25200 levels.