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Euro and Gbp hourly charts

Posted on April 21, 2009 at 13:38 in Short-Term Analysis by Valeria Bednarik

EUR/USD Current price: 1.2926

Consolidating just above the 1.2900 zone, the pair is inside a small flag in the hourly charts, indicators show more bearish pressure for the pair, not as clear due to lateralization. Hovering around the 20 SMA that lost the bearish momentum, pair needs to close actual candle above 1.2950 to attempt a new test of the upper band, around 1.3000. Clear break under 1.2905, could be understood as downside continuation.
Support levels: 1.2905 1.2888 1.2851

Resistance levels: 1.2950 1.3010 1.3048

GBP/USD Current price: 1.4580

After hitting an intraday low of 1.4470 at the beginning of Asian session, the pair is slowly correcting to the upside. Momentum in the hourly points for more upside movements, yet the pair is still unable to break above the descendant trend line, static resistance around 1.4610. Break above that level, could extend upside correction to next resistance zone around 1.4660.

Support levels: 1.4550 1.4500 1.4470

Resistance levels: 1.4568 1.4610 1.4660

 

Tags: eurusd, gbpusd

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