The EUR/USD pair extended its consolidation. The price went back and forth between the current support and the resistance. The resistance is seen at 1.1250, the support stands at 1.1200.
We will buy the euro if the price consolidates above 1.1250. If the EUR/USD breaks the support 1.1200 downwards the price will advance towards 1.1150.
The GBP/USD continued its bearish momentum. The pair opened the day with a gap on Monday. The price continued its decline during the day. Sellers broke the level 1.2900 and headed lower. The current resistance is seen at 1.2900, the support exists at 1.2800.
We believe that the pound will keep weakening towards the level 1.2800. We do not exclude a short-term bounce off to 1.2900.
The recovery phase remained intact. The price kept climbing upwards during the day. The pair broke the level 101.40 and stopped at 101.60. The resistance is at 101.40, the support comes in at 100.40.
We prefer to stay neutral, waiting for new drivers.
Read the full review on our site:
FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications
Only until February 26, special deposit rates* are available for all traders in Malaysia, Indonesia, Vietnam and Thailand: 3.6 MYR = 1 USD 10 000 IDR = 1 USD 20 000 VND = 1 USD 25 THB = 1 USD *Only Local bank deposit method is included Hurry up to take advantage of the offer until […]