EUR/USD Current Price: 1.4588

EUR/USD Current Price: 1.4588. Slowly regaining the upside, pair remains capped under the 38.2% retracement of the last daily up leg 1.4190/1.4842, around 1.4600. with hourly charts slightly bullish, pair needs to clearly confirm above that level to extend the upside rally, thus next strong resistance area came around 1.4650; if the last gives up, pair could regain previous day bullish strength.

Under 1.4550 static support zone, next support came at 1.4515 area, 61.8% of the mentioned rally. Nikkei 225 opened up 0.1% and quickly turned to negative territory, limiting pair rises. “Price broke above 20 SMA yet it still has a bearish slope, while in bigger time frames pair is well under the indicator, yet with no clear bias for next hours,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.4555 1.4510 1.4480. Resistance levels: 1.4610 1.4645 1.4680

GBP/USD: Pound drops from 4-month high at 1.5160 to levels above 1.5000

The Pound has pulled back from 4-.month high at 1.5160 reached yesterday to levels right at 1.5000 support which has been tested on late Asian session. 1.4990/1.5000 support level remains intact and the Pound attempts to pick op from there.Initial support lies at the mentioned 1.4990/1.5000 level, and below there 1.4950 (Apr 15,17 and 30 high) and 1.4830 (May 4 low).

On the upside, the Pound could find resistance at 1.5065 (Apr 16 high) , and above there, 1.5095 and 1.5160.GBP/JPY rally from 139.00 low on Apr 28 has capped at 149.90 high yesterday and the Pound has dropped to 146.93 low on Asian session. Support levels for the Pound lie at 146.95 and 146.55. On the upside, Pound might find resistance at 147.80, and 149.90.