EUR/USD is currently trading with a declining Bullish bias. Yesterday, the pair rebounded
from a key support level 1.1073, headed perfectly long as previously forecasted but is currently
finding it hard to break above a key supply zone 1.1147-1.1157. We expect a possible
bearish rebound from this zone to go short while a clear breakout above 1.1157 may
invalidate the anticipated downward rally. This pair should be traded alongside EUR/HKD,
GBP/USD, NZD/USD and AUD/USD. These pairs have a strong positive correlation of up to
+0.96 and will have a similar price action duing this intraday
GBP/USD is currently trading with slight bearish bias. Earlier today, the pair found a key
support around 1.2997, headed long but is yet to reach our target resistance level 1.3099.
We expect to continue long up to 1.3099 or even higher to 1.3228. However, as long as
the current descending channel protects the upper side, we expect a continuation of the
downward rally that began on Thursday the previous week. This pair should be traded
correlation of up to +0.86 and will have a similar price action during this intraday.
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