Weekly technical reports
EURUSD
EURUSD stayed sideways during this week and we might see EURUSD making an attempt towards 1.2750 level. For long term traders this might provide a good opportunity for buying EURUSD for initial target at 1.2850 which could easily extend towards 1.2905 level. On the lower side, break of 1.2750 level will set 1.2700 as new target and will probably go into long term downward trend.
GBPUSD
GBPUSD is currently around a very important level, at 1.8950, at the moment. We might see some selling of GBPUSD towards 1.8820 during initial part of the week. On the upper side we might see 1.9068 come into play this week. Mostly we might see range between 1.8820 and 1.9068 levels during this week. RSI is also around 50 and would support move in both directions. We might see long term traders targeting GBPUSD to buy around 1.8820 level for targets above 1.9000 level..gif)