GBP/USD has declined below 1.3600. The pair could extend its slide in case sellers manage to drag it below the key 1.3560 support area, FXStreet’s Eren Sengezer reports.
Sellers to take action with a drop below 1.356.“The risk perception is likely to remain the primary market drive on Tuesday and geopolitical tensions are unlikely to ease unless Russia takes a step back and reaffirms its intention to look for a diplomatic solution.”“In case a four-hour candle closes below 1.3560, additional losses toward 1.3540 (static level) and the 1.3510/1.3500 area (static level, psychological level) could be witnessed.”
“On the upside, interim resistance seems to have formed at 1.3580 (static level) ahead of 1.3600 (psychological level) and the 1.3630/1.3640 area (static level, February 18 high).”
EUR/USD edges higher above 1.1300 on upbeat IFO data.EUR/USD regained its traction during the European trading hours and climbed above 1.1330. Although the market mood remains cautious, the upbeat IFO sentiment data from Germany seems to be helping the shared currency find demand. Investors eye geopolitical headlines surrounding the Russia-Ukraine crisis.
EUR/USD News ..GBP/USD recovers toward 1.3600.GBP/USD fell below 1.3560 but managed to stage a rebound toward 1.3600 in the early European session. British Prime Minister Boris Johson is expected to announce sanctions against Russia later in the day. The US economic docket will feature Markit PMI data.