Breaking? EURUSD falls to new low. GBPUSD breaks 1.6354

The EURUSD has moved to new lows after faling back below the 1.4281 level. A break of 1.4257 is still needed (low for 2010) but a move below will next target 1.4217. Staying below the 1.4281 level will now be watched by the bears. Be aware.

For the GBPUSD, the price held the upside resistance at the 1.6380-86 (see prior post) and has broken below support at the 1.6354 level. The pair is still a ways away from the low for the day and more supported than the EURUSD. However, as long as the price remains below the 1.6354 a move toward KEY support at the 1.6309 area is the next key target.




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