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GBP/USD chart on the hourly time frame

The GBP/USD price made new strong negative trades to exceed the 1.2200 barrier and pave the way for The GBP/USD price managed to achieve our extended target at 1.2115, and we notice that the price rebounded significantly upwards to reach the 1.2250 areas, while the overall bearish trend is still likely for the upcoming period with the price remaining below 1.2300, as breaching this level will lead the price to achieve more gains and head around 1.2510.

Now, the price needs to break the 1.2180 level to enhance the chances of resuming the bearish wave whose next main target reaches 1.2045.

EUR/USD chart on the hourly time frame

The EUR/USD price shows sideways and weak trading since the morning, therefore, there is no change in the expected downward trend scenario for today, which depends on stability below the 1.0563 level, reminding that we are waiting for a break of 1.0475 to confirm opening the way towards 1.0400 as the next negative station.

 

EUR/USD was unable to hold for long below 1.0220, trading positively and trying to recover, however we are still with the bearish scenario waiting for confirmation of breaking 1.0220 to open the way towards 1.0100 as the next main target, noting that breaking 1.0325 will stop the bearish wave and lead the price to start an upward correction in the short term.