H1 Timeframe

GBP/USD remains trapped inside a descending channel after a sharp bearish rejection near key resistance. Traders are watching whether a move back toward 1.3418 produces another short-side signal before 5pm London time.

EUR/USD is showing signs of exhaustion after rising for more than two weeks, with technical resistance near 1.1465 limiting the upside. Market participants are watching whether the pair grinds lower toward 1.1400 and 1.1315 or forms a tradable range in thin July conditions.