Friday’s Forecast: Fresh Support and Targets for EURUSD and GBPUSD

Eurusd And Gbpusd: Analyzing New Support and Targets for Friday

Eurusd Analysis:
The EUR/USD pair is currently facing a crucial support level near the 1.1760 region. If the pair manages to hold above this support level, we could see a bounce towards the 1.1820 resistance level. On the flip side, a break below 1.1760 could lead to further downside towards the 1.1720 support level. Traders should closely monitor the price action around the 1.1760 level for potential trading opportunities.

In terms of indicators, the RSI is currently hovering around the 50 level, indicating a neutral bias in the market. However, the MACD indicator is showing signs of a bullish crossover, suggesting a possible uptrend in the near term. Overall, the outlook for the EUR/USD pair remains mixed, and traders should exercise caution while taking positions.

Gbpusd Analysis:
The GBP/USD pair is currently trading near the 1.3810 support level, with immediate resistance seen at 1.3860. If the pair manages to break above 1.3860, we could see a rally towards the 1.3920 resistance level. On the downside, a break below 1.3810 could lead to further downside towards the 1.3760 support level. Traders should pay close attention to the price action near these key levels for potential trading opportunities.

The RSI indicator is currently below the 50 level, indicating a bearish bias in the market. However, the MACD indicator is showing signs of a bullish crossover, suggesting a potential reversal in the near term. Traders should wait for confirmation from both indicators before entering any trades.

Overall, both the EUR/USD and GBP/USD pairs are currently trading near crucial support levels, and traders should exercise caution while trading these pairs. It is essential to wait for confirmation from technical indicators before taking any positions to avoid potential losses.