During the Asian trading session, EURUSD managed to maintain around 1.10000 levels. At the beginning of the EU session, the pair falls to the 1.09800 level and receives support there. This was followed by a strong bullish impulse pushing the EURUSD to 1.10250 levels. For now, the pair stops at that level and makes a pullback to the 1.10100 level. For a bullish option, we need a positive consolidation to manage to hold above the 1.10000 level. Potential higher targets are 1.10300 and 1.10400 levels. We need a pullback to this morning’s support at the 1.09800 level for a bearish option. Potential lower targets are 1.09700 and 1.09600 levels.
During the Asian trading session, the pair GBPUSD moved in the range of 1.24800-1.25000. At the beginning of the EU session, the pound made a breakthrough above the 1.25000 level and jumped to the 1.25213 level. We currently have resistance at that level and see a pullback to the 1.25100 level. For a bullish continuation, staying above the 1.25000 level is important. Potential higher targets are 1.25300 and 1.25400 levels. We need a negative consolidation and pullback below the 1.24800 support this morning for a bearish option. Potential lower targets are 1.24700 and 1.24600 levels. The UK’s monthly GDP report for February showed the economy stagnated at 0% in February, compared to expectations of 0.1% and 0.3% in the previous reading.
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