EUR/USD
Tuesday's bullish outside day defines the short-term trend, and is consolidating beneath insignificant resistance at 1.2673. Having completed an inverse-head-and-shoulders pattern, the main threat is for further strength towards the wave equality target at 1.2765. Support lies at 1.2518 to protect Tuesday's low at 1.2479, and only below there would concern near-term bulls.
GBP/USD
The key resistance level at 1.5228 has once again beaten back strength, and suggests a triangle consolidation pattern may be underway. The probe below 1.5132 threatens to extend towards the range floor at 1.5070, and backup support lies at 1.5050. Another test of 1.5228 would suggest a breakthrough is not too far away, opening 1.5288.
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