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EUR/USD consolidation goes on but GBP/USD finally pushes higher

EUR/USD finds itself unable to push on above $1.135, but against the dollar the pound is enjoying some overdue gains.

EUR/USD stuck below resistance

A move through $1.135 continues to elude EUR/USD, with this area of resistance coming into play throughout the past month.

This short-term retracement/consolidation within a wider downtrend leaves the bearish view intact, and even a bounce that sees the price push on towards $1.15 would also maintain that view. The run of lower highs in recent months leaves the sellers firmly in charge.

GBP/USD stages a recovery

The pre-Christmas week is proving to be a boon for GBP/USD, as a third day of gains sees the price push on above the $1.337 swing high.

From here $1.347 and $1.3515 come into view, although as with EUR/USD the downtrend is still firmly in place, with this bounce viewed within that broader bearish context.


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