EURUSD setting up for dip towards 1.3100

EURUSD seems to set itself up for a nice downward move but before doing so, it is taking some gradual retrace and currently a good solid selling level can be seen just around 1.3260 level. From that 1.3260 level EURUSD will look break below 1.3100 level and most traders will target something around that level.

On the upper side, break above 1.3260 level will take EURUSD towards 1.3340 and once EURUSD manages to break that level, the reversal entry indication is there. RSI is not on much lower side so it don’t seems to play much part in the movement. 

GBPUSD taking a breather before dip

GBPUSD after taking a good dip earlier this week seems to take some retrace and gradually head towards 1.5715 level and from there it seems to take another good dip towards 1.5530 level. RSI is around 43 in daily charts and don’t seems to play much part in this moment at the moment.

On the upper side, a good weekly resistance can be seen at 1.5785 and if GBPUSD manages to break above that level, then we will be looking it to target 1.5855 level.

EURUSD

EURUSD seems to be setting itself up for a nice dip and even in weekly charts, the indication for an extended dip is there. At current situation, the daily charts are also looking good for a dip.

The first selling level to be considered can be seen just around 1.3420 level and targets will be around 1.3225 level which can be further extended to 1.3150 level. The next selling level (for some to average out the first position) can be seen around 1.3420 level. If EURUSD manages to break above 1.3475 level, then reversal of the trend is indicated.