Hello traders, this is the 13.00 GMT intraday technical view

EurUsd reached it’s projected target in Wednesday’s session calculated using Fibonacci Expansion at 1.4729, after that it lacked enough strength to stay above 1.4700, it retraced to around the 0.50 Fib level and has traded around that level in a 50-60 points range until now. The pair is trying to figure out a direction for the rest of the session but the bullish should prevail, as the market conditions haven’t changed while the ECB decided to hold rates.

GbpUsd traded around the 2.1000 level for most of the Asian and Uk session and only prior to the BOE rate announcement it started to move higher and after another retest of the 2.1000 support level minutes before the announcement it pushed higher and printed a new high at 2.1085. As seen on the chart below,on the 1hr timeframe the pair formed a bullish flag formation that has a target calculated with Fibbonacci Expansion at 2.1185.