EURUSD
EURUSD extends lower on two-day corrective pullback from 1.1288, with fresh extension below initial 1.1173 support, being so far contained by daily Ichimoku clod base at 1.1121. The move is seen as corrective phase of larger uptrend, as daily technicals hold bullish setup. On lower timeframes, hourly studies are negative, with 4-hour indicators heading south and allowing for further easing, before bulls re-assert. Next supports lay at 1.1109/1.1070, Fibonacci 38.2% retracement of 1.0818/1.1288 upleg / 29/30 Apr higher base, below which, extended dips should ideally reverse at 1.10 zone, ascending daily 10SMA / double-Fibonacci support, 38.2% retracement of entire1.0519/1.1288 rally and 61.8% retracement of 1.0818/1.1288 upleg. Overall bullish structure keeps upside in focus, with penetration of 1.1288 barrier, to open next targets at 1.1387, Fibonacci 38.2% retracement of larger 1.2884/1.0461 descend and pivotal 1.1449, lower top of 19 Feb. Conversely, extension and close below daily 10SMA, would soften the structure and trigger further easing.
Res: 1.1188; 1.1223; 1.1288; 1.1330
Sup: 1.1109; 1.1070; 1.1053; 1.1000
GBPUSD
Cable remains under pressure in the near-term, with yesterday
Linear Mode
