Thursday’s Jan 24th midday analysis -13.00 GMT

Euro found an intraday support base at the 1.4600 level and moved toward yesterday’s at 1.4685; moving higher will get the pair closer to the 1.4700 resistance level and if that gets breached we could see the 1.4825 bullish target touched. This scenario will of course be denied if the resistance levels hold and the pair forms a short term double top that will give bears a new opportunity to short.

GbpUsd tested the 1.9500 support and slowly started to move higher and it has already pipped a new weekly high, if the pair has enough strength to hold above 1.9600 we could see the 1.9670 resistance being touched later in the afternoon.