EUR/USD
The pair currently lacks a trend on the H1 chart with range trading between 1.3300 and 1.3230, this range was further narrowed during the Asian session. This lack of trend makes it difficult to get any good signals from our technical indicators. The outlook remains as before, if we see a break above 1.3300 then this will open the way for 31st July high 1.3345, while a drop below 1.3230 makes leaves the next support at 1.3190 (low of 1st & 2nd of July).
USD Trade balance at 12:30pm GMT is the figure to monitor today with the deficit expected to decrease from 45B to 43.1B
Res: 1.3415, 1.3380 1.3345, 1.3300
Sup: 1.3230, 1.3190, 1.3165, 1.3145
GBP/USD
Better than expected UK Services PMI caused the sterling to jump 40 pips breaking resistances and finally setting the daily high at 1.5375, which we will take as today
Linear Mode
