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GBP/USD chart on the hourly time frame

The GBP/USD price shows more bullish bias to approach our expected target at 1.2730, and we need to monitor the price at this level, as breaching it will push the price to achieve additional gains extending to 1.2800 and then 1.2866 as subsequent positive stations.

On the other hand, it should be noted that the consolidation of this level in front of the current bullish wave will pressure the price to rebound downward.

EUR/USD chart on the hourly time frame

The EUR/USD price starts today's trading positively to try to breach the 1.0563 level, and by looking closely at the chart, we find that the price is completing the formation of an inverted head and shoulders pattern that supports the chances of making more upward correction during the coming period, to head towards achieving positive targets starting at 1.0634 and extending to 1.0706.

Therefore, we will continue to favor the upward trend in the short term, taking into account that failure to confirm the breach of 1.0563 will put the price under negative pressure targeting a visit to the 1.0475 level before any new attempt to rise.