Bearish Bias

The U.S. dollar has been regaining some strength against the euro and British pound.

GBP/USD: For the bearish bias to continue, we would need to see prices below 1.24 but more importantly below 1.2340. However, as long as the pair trades below 1.2550, the outlook remains bearish.

EUR/USD: The pair was able to hold above 1.0630 but gains were capped at 1.0780. Below 1.07, we favor a bearish bias with a next lower target at 1.0550.

Elsewhere, the consolidation of the DAX continues between 16300 and 15600.


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Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

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