The euro and the pound sterling have been gaining ground against the US dollar with prospects for a further uptrend. EUR and GBP find support amid the lack of fundamental data from Europe. So, the bulls are developing the upward correction for the risky assets. Meanwhile, a slump in the US stock market is putting pressure on the US currency.
Technical signals for EUR/USD:
A breakout of 1.0895 will take the euro upwards to the area of 1.0925 – 1.0950.
A breakout of 1.0865 will trigger sell-offs of the euro in the area of 1.0835 - 1.0807.
Technical signals for GBP/USD:
A breakout of 1.3006 will encourage the euro's advance to the area of 1.3036 - 1.3066.
A breakout of 1.2970 will trigger the sell-offs of the sterling in the area of 1.2930 - 1.2889.
Fundamental data:
ECB President Christine Lagarde is due to speak
US new home sales
