EUR/USD
Thursday's strength is approaching Wednesday's doji candle high at 1.2074, but resistance here should be strong enough to protect higher resistance levels at 1.2100 and 1.2145. This would suggest a return to Thursday's current session low at 1.1957 is on the cards, in accordance with the wider dominant bear trend, and below 1.1957 would expose Tuesday's higher low at 1.1901.
GBP/USD
Builds on the recovery off Tuesday's reversal low at 1.4349, and is tackling resistance at Wednesday's high at 1.4608. While downside scope is limited to the 1.4475 area, there is room for a break above 1.4608 towards the June 4 lower high at 1.4680. Below 1.4514 would extend consolidation to the 1.4475 area, where a 1.618 extension target at 1.4443 provides backup support.
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