EUR/USD and GBP/USD Eye Key Resistance as Dow Targets 47,000
Technical analysis reveals bullish setups across major forex pairs and equity indices, with the Dow Jones Industrial Average showing potential for a rally to 47,000 if current support levels hold. EUR/USD is consolidating near 1.1080, with bulls targeting the 1.1150 resistance level amid dollar weakness. The pair has formed a bullish flag pattern on the 4-hour chart, suggesting continuation higher if 1.1050 support maintains. GBP/USD is testing the 1.3180 resistance zone, with momentum indicators showing room for further upside toward 1.3250. The FTSE 100 has broken above 8,350, confirming a bullish breakout pattern. Technical traders are watching the 200-day moving averages across these pairs as key dynamic support levels. Risk-on sentiment could accelerate if equity markets continue their upward trajectory, potentially weakening the dollar further against major currencies.
Related Symbols:
EURUSD
GBPUSD
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