The pair retreated from its recent lows on Friday. The price recovered to 1.0623 where the upward momentum faded. The euro bounced from the mark and rolled back. The resistance is seen at 1.0600, the support stands at 1.0550.
As the most probable scenario, we consider further moving downwards towards the level at 1.0500. However, we do not exclude a further extension towards 1.0650.
Traders kept the price in near-term directionless mode. The GBP/USD remained confined within a trading range 1.2500 and 1.2400. The current resistance is seen at 1.2600, the support lies at 1.2500.
We believe the pound will remain range-bound and will extend its consolidative pattern on Monday.
The price remained in an ascending channel on Friday. The pair declined from its upper boundary to its lowest one but failed to break it. The resistance is at 114.00, the support comes in at 113.00.
A move below 113.00 will signal the presence of sellers who will drive prices lower towards 112.00 and 111.00. Only a fixation below 111.00 will ease the current upward momentum and will send this market to 110.00 and 109.00.
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