The EUR/USD pair reacted yesterday on the U.S. CPI data even though most of analysts see this event just as a catalyst for selling the Euro. We saw that the pair was recently testing the lower boundary of the 1.35-1.37 channel which was kept since mid May. As the European session ended the pair tested twice the lower support at 1.3460 that means the pair is the lowest since November 2013. Today there are no important economic events so we might see some technical trading with possible price correction. The movement is sideways. The support is found at 1.3460 and resistance at 1.3550.
The GBP/USD pair slightly decreased during Tuesday’s trading hours and turned almost on its support at 1.7040. We saw that in the time the EUR/USD dropped the GBP/USD increased which underlined the unique movement on the EUR/USD pair. However, GBP/USD turned the slight bullish movement and fell as the general sentiment has remained bearish. Today will be very important day due to economic releases. At 8.30AM GMT the U.K. Monetary Policy Committee Asset Purchase Facility Votes and Official Bank Rate Votes will be released. Later on, at 11.45AM GMT the Bank of England Mark Carney will hold a press conference. The sentiment is slightly bullish. The support is found at 1.7030 and resistance at 1.7100.
July 23, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD pair reacted yesterday on the U.S. CPI data even though most of analysts see this event just as a catalyst for selling the Euro. We saw that the pair was recently testing the lower boundary of the 1.35-1.37 channel which was kept since mid May. As the European session ended the pair tested twice the lower support at 1.3460 that means the pair is the lowest since November 2013. Today there are no important economic events so we might see some technical trading with possible price correction. The movement is sideways. The support is found at 1.3460 and resistance at 1.3550.
The GBP/USD pair slightly decreased during Tuesday’s trading hours and turned almost on its support at 1.7040. We saw that in the time the EUR/USD dropped the GBP/USD increased which underlined the unique movement on the EUR/USD pair. However, GBP/USD turned the slight bullish movement and fell as the general sentiment has remained bearish. Today will be very important day due to economic releases. At 8.30AM GMT the U.K. Monetary Policy Committee Asset Purchase Facility Votes and Official Bank Rate Votes will be released. Later on, at 11.45AM GMT the Bank of England Mark Carney will hold a press conference. The sentiment is slightly bullish. The support is found at 1.7030 and resistance at 1.7100.