EURUSD

The Euro showed no significant results in near-term action, remaining entrenched with 1.1050/1.1090 congestion, with 200SMA marking key near-term resistance at 1.1092. Formation of double Death Cross of 10/200 and 5/200SMA adds on downside pressure, as daily picture remains firmly bearish.
Near-term studies are in neutral mode, supporting current directionless trading, as the pair awaits for US jobs data for signals.
Break below near-term range’s lower boundary is needed to open 1.1000, loss of which to confirm bearish signal for extension towards key 1.0909 support.
Conversely, lift above 200SMA would ease current downside pressure, however the downside is expected to remain at risk while price holds below daily Kijun-sen line at 1.1167, which capped previous recovery attempts.

Res: 1.1090; 1.1110; 1.1167; 1.1185
Sup: 1.1050; 1.1030; 1.1000; 1.0969

GBPUSD

Cable holds within narrow consolidation above fresh low at 1.2795, maintaining negative sentiment, after yesterday’s probe above psychological 1.3000 barrier (former strong support), proved to be short-lived. Also, long upper shadow of yesterday’s bearish daily candle weighs on near-term outlook.
Negatively aligned near-term studies support the notion, which is also driven by strong post-Brexit uncertainty.

On the daily chart, setup of technical studies remains firmly bearish and favors further downside, ignoring so far oversold conditions of RSI and Slow Stochastic.
The pair is looking for results of US NFP data, which are expected to generate stronger signals.
Loss of initial supports at 1.2874 (lows of yesterday / today) would open key support and fresh 31-year low at 1.2795 and signal resumption of post-Brexit fall.
Sustained break above 1.3000 barrier (reinforced by falling 5SMA) would ease immediate downside pressure and allow for extended correction towards 1.3118 (former low) and 1.3161 (falling daily 10SMA / daily Tenkan-sen).
Only lift above 1.3250 (Fibo 61.8% of 1.3510/1.2795 downleg), would neutralize persisting downside threats and expose key short-term barriers at 1.3500 zone.

Res: 1.3000; 1.3046; 1.3118; 1.3250
Sup: 1.2916; 1.2874; 1.2795; 1.2705

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