EUR/USD
Thursday's strength extends the strong near-term bull trend to validate the break above a seven-month bear trendline around 1.2750, and resistance at 1.2955 is set to come under fresh pressure. The psychological 1.3000 level looms ahead, but with a cluster of upside targets in the 1.3095/1.3120 area suggests there is scope for a push above 1.3000. Corrective weakness will attract support while above 1.2830, which protects the 1.2811 higher intraday low.
GBP/USD
Bulls have sustained the break above 1.5240 following Thursday's strong move higher, and resistance at 1.5470 is likely to face a retest. The lower high at 1.5498 is close to psychological resistance, but bull momentum is likely to run out near the April 15 lower reaction high at 1.5524. A key falling long-term daily moving average lies at 1.5530. There is risk of corrective weakness towards 1.5351, but 1.5295 should contain consolidation.
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