EURUSD. Trend is downwards on the daily chart. Euro has broke support and continues fall . A pair is trading in the downstream channel, approaching to the next support zone 1.4541. It likely rebound upwards from the support zone. You can try to put buy stop order on the 1.4650 level and put stop-loss order just below 1.4600 in this case. If pair will close below 1.4541 downwards pressure will stronger. Look to get aggressive short on the breaking of support 1.4541. I recommend to use the tactic of re-entry.


GBPUSD. Pair is consolidating near the lower border of descending channel. Pound has reached a support at 1.6300. This line Fibonacci retracements use horizontal lines to indicate areas of  50% support. You can try to put buy stop order on the 1.6298 level and put stop-loss order just below 1.6189 in this case. If pair will close below 1.6189 downwards pressure will stronger. Look to get aggressive short on the breaking of support 1.6189. I recommend to use the tactic of re-entry.



Elena Chernaya, Chief Currency Strategist
ELAN Investment Solutions
 

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