GBPUSD and EURUSD move higher, but there is work to do to tilt the bias more to the upside | Forexlive

For EUR/USD, the pair has climbed above the 100-hour moving average at 1.0500 and the 100-bar moving average at 1.0518, but remains below the key 200-hour moving average at 1.0525. This level has been tested seven times since last Tuesday, with sellers defending it each time.

• A break above 1.0525 could open the door for further upside, targeting the 38.2% retracement of the November trading range at 1.0563.
• On the downside, failure to hold above the moving averages could see the pair retesting the lows near 1.0475.

Outlook

• For GBP/USD, buyers will look to maintain momentum above 1.2676, with a break above 1.2720 signaling further strength.
• For EUR/USD, the key battle remains at the 200-hour moving average. A decisive move above this level could bring buyers back into control, while failure to clear it may lead to renewed selling pressure.

Traders should monitor these critical levels to gauge momentum and market bias for the remainder of the day.