EUR/USD
Trades in near-term corrective mode the recent gains through 1.4450 barrier peaked at 1.4471. Subsequent pullback on overbought hourly conditions, currently attempting to base at 1.4420 zone, where hourly 20 day MA lies. Further decline is not ruled out at this point, with 1.4400, daily 55 day MA, expected to contain dips and keep near-term strength intact. On the upside, clearance of 1.4475/1.4500 is required to resume gains towards key barrier at 1.4550, also Fib 61.8% of 1.4695/1.4320 downleg. Loss of 1.4400/1.4380, however, would indicate an end of recovery phase and re-focus 1.4320/00.
Res: 1.4450, 1.4476, 1.4500, 1.4550
Sup: 1.4413, 1.4400, 1.4377, 1.4345
GBP/USD
Daily 55 day MA at 1.6350 and hourly 20 day MA at 1.6390, so far hold corrective pullback from 1.6440, today
Linear Mode
