EUR/USD and GBP/USD Analysis
EUR/USD Intraday: key resistance at 1.1355.
Most Likely Scenario: Short positions below 1.1355 with targets @ 1.1275 & 1.1225 in extension.
Alternative scenario: Above 1.1355 look for further upside with 1.139 & 1.143 as targets.
Comment: The pair is posting a rebound but stands below its resistance, while the RSI is capped by a declining trend line.
GBP/USD Intraday: the bias remains bullish.
Most Likely Scenario: Long positions above 1.54 with targets @ 1.548 & 1.554 in extension.
Alternative scenario: Below 1.54 look for further downside with 1.5365 & 1.5335 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.