EURUSD
The Euro eased below 1.10 handle, where daily Ichimoku cloud base lies, following the third consecutive failure at 200SMA at 1.1030. Near-term price action remains capped by descending daily cloud and currently holds within 1.0923/1.1030 congestion.
Daily slow Stochastic is reversing from overbought territory and suggests further easing, however, bullishly aligned daily studies that still keep upside in focus, favor limited dips. Rising daily 10SMA, currently at 1.0868, is expected to contain extended downside attempts, to keep intact pivotal 1.0794 support, higher low of 07 Dec, loss of which would revive bears.
Prolonged consolidation is seen as likely scenario, before renewed attack at daily cloud base and 200SMA. Sustained break here and lift above 1.1100, daily Ichimoku cloud top, is required to confirm bullish resumption.
Res: 1.1000; 1.1030; 1.1059; 1.1100
Sup: 1.0925; 1.0868; 1.0828; 1.0794
GBPUSD
Cable dips below 1.52, on corrective pullback, triggered by Friday
Linear Mode
