The euro remained under pressure on Monday. The common currency managed to reverse some losses amid temporal dollar retracement. However, buyers lost their strength around the 1.0650 level which rejected them downwards. The resistance is seen at 1.0650, the support stands at 1.0600.
If the price remains below 1.0600 the pair will extend its losses towards 1.0550. Buyers will have a chance to recover if they fixate above 1.0700.
The sterling was in buy mode yesterday. The pair GBP/USD jumped to fresh weekly high at 1.2500. Traders broke 1.2400 on their way upwards. The 1.2500 level appeared to be a solid obstacle which held buying impetus. The current resistance is seen at 1.2500, the support lies at 1.2400.
The pound could gain momentum, if it recovers above the 1.2500 area. We see 1.2600 as the next intraday resistance and probable bullish target.
The pair had a positive day on Monday. The price remained onto recent high, trading around 111.00 during the day. The resistance is at 111.00, the support comes in at 110.00.
If the price remains above 110.00 the upbeat tone will persist towards 112.00. A failure to hold above the level will suggest further weakness towards 109.00.
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