EUR/USD barriers are back in focus as the pair continues to head lower. A break of the recent 1.2858 low could easily see the pair accelerate losses and the downward move to gather momentum, which would put reported barriers at 1.2850 under threat. While EUR/USD may still be trading above 1.2900–and 1.2850 should prove a tough nut to crack–those barriers are worth remembering, with barrier defense likely to be mounted ahead of the rate. EUR/USD trades at 1.2951.
GBP/USD recovery off earlier lows at $1.5580 extends now above $1.5620 but seen meeting resistance from offers placed between $1.5620/25. Above here and rate can extend move toward $1.5645/50 ahead of stronger area between $1.5665/75.
EUR/GBP pressing lower, breaks under earlier low at stg0.8290 to extend base to stg0.8289, with rate continuing to hold heavy. Moves see GBP break above its resistance at $1.5620/25. Stronger demand seen in place between stg0.8285/80 with stops noted on a break below.
EasyForexNews Research Team