EURUSD and GBPUSD: The Euro could move above 1.06000

<div><img width="1000" height="667" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/03/shutterstock_1311823778.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="EURUSD, GBPUSD and AUDUSD Chart Movement Overview" decoding="async" loading="lazy" /></div><h1><b>EURUSD and GBPUSD: The Euro could move above 1.06000</b></h1>
<ul>
<li aria-level="1">During the Asian trading session, EURUSD was retreating from 1.06000 levels to support at 1.05735 levels.</li>
<li aria-level="1">During the Asian trading session, GBPUSD pulled back to support at the 1.21500 level.</li>
</ul>
<h2><b>EURUSD chart analysis</b></h2>
<p>During the Asian trading session, EURUSD was retreating from 1.06000 levels to support at 1.05735 levels. The euro gained strength at the beginning of the EU session and started a <a href="https://www.financebrokerage.com/the-dollar-index-continues-its-bullish-rally-to-105-80/">bullish</a> impulse up to the 1.05900 level. We are currently holding around that level and hope for a break above to return to the 1.06000 level. A move above would indicate a potential continuation to the bullish side. And potential higher targets are 1.06100 and 1.06200 levels.</p>
<p>We need a negative consolidation and a return to testing this morning’s support around the 1.05700 level for a bearish option. Additional support in that zone is the EMA50 moving average. A drop in EURUSD below these two supports would confirm the bearish pressure and influence the continuation of the pullback. Potential lower targets are 1.05600 and 1.05500 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-234912 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/H4SXVjMR-1024×620.jpg" alt="EURUSD Chart Analysis" width="1024" height="620" /></p>
<h2><b>GBPUSD chart analysis</b></h2>
<p>During the Asian trading session, GBPUSD pulled back to support at the 1.21500 level. There, we get support and make a new positive consolidation up to the 1.21700 level. Additional pressure in that zone is created by the EMA50 moving average. A break above would confirm the dominance of the bearish option, and we could expect to see a continuation of the pound’s recovery. Potential higher targets are 1.21800 and 1.21900 levels.</p>
<p>We need a negative consolidation and pullback to this morning’s support at the 1.21500 level for a bearish option. A drop below would introduce uncertainty into the recovery, and we would see a drop to lower support levels. Potential lower targets are 1.21400 and 1.21300 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-234913 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/6WCkXPiC-1024×620.jpg" alt="GBPUSD Chart Analysis" width="1024" height="620" /></p>
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