EURUSD and GBPUSD: EURUSD jumps to a new high at 1.09359

• During the Asian trading session, EURUSD climbed to a new high at 1.09359 level.
• During the Asian trading session, GBPUSD broke above the 1.24600 level.

EURUSD chart analysis

During the Asian trading session, EURUSD climbed to a new high at 1.09359 level. After that, we see a short pullback to support at the 1.09100 level. We managed to get support in that area, and with a new impulse, we started to continue the recovery. We are now at 1.09250 and expect to continue above the 1.09300 level.

Potential higher targets are 1.09400 and 1.09500 levels. We need a negative consolidation and pullback to 1.09000 levels for a bearish option. Thus, we would fall below the Asian low, which we would interpret negatively if the euro. Potential lower targets are 1.08800 and 1.08600 levels. EMA50 moving average is in the zone around 1.08000 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD broke above the 1.24600 level. We managed to retest the 1.25000 level, but we remain below it for now. Let’s follow a slight pullback to the 1.24800 level, where we get support and expect to see a bullish consolidation and a new jump above the 1.25000 level. Potential higher targets are 1.25200 and 1.25400 levels.

We need a negative consolidation and a decline to the 1.24500 level for a bearish option. A break below this support would lead to the formation of a new weekly low, which could negatively affect GBPUSD and send it to lower support levels. Potential lower targets are 1.24200 and 1.24000 levels. EMA50 moving average is in the zone around 1.23800 levels.