Sterling and Euro rise broadly today, partly based on progress in Brexit negotiations, and partly on stronger than expected PMIs. Strong risk-on market in Europe also pressures the green back.
In particular EUR/USD has taken out 1.2177 resistance to resume the whole up trend from 1.0635. Next target will be 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452.
GBP/USD also breaches 1.3539 resistance, suggesting resumption of whole rise from 1.1409. Sustained trading above 1.3539 will pave the way to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956.
