FX.co ★ Trading plan for EUR/USD and GBP/USD on August 9

The forex market halted, partly because of the completely empty macroeconomic calendar. It is likely that investors were waiting for tomorrow's release of inflation data in the US, which will indicate further action by the Fed. Many expect the report to be even better than before.

EUR/USD is in a two-week flat, more specifically at 1.0150/1.0270. The lower border was formed after the quote halted following a rise of about 50 pips. Many expect that this scenario will persist, unless the quote breaks through 1.0225.

GBP/USD bounced back by 100 pips from the psychological level of 1.2000. Resistance is found at 1.2150, relative to which there was a reduction in the volume of long positions. Although downward interest is reappearing in the market, stagnation is possible.