GBP/USD and EUR/USD IN FOCUS

GBP/USD is consolidating at the moment suggesting further up movement. A break above the formed rectangle gives the possibility of reaching 1.5317 level (61.8% Fib level counted from 1.5495 to 1.5029). If this is the case, yesterday`s analysis for EUR/USD may not be valid as these pairs are still highly correlated. A strong up movement on GBP/USD will give a signal that EUR/USD should follow. In both currency pairs the situation is not clear right now. It may pays off to wait for the confirmation first. Especially after the terrorist attack in Paris, the USD dollar may strengthen on Sunday`s open.

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