In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the January 20th session.
EUR/USD — The euro rallied a bit on Tuesday session as the 50-day EMA has offered support. The market looks likely to see a sideways price action at the moment. The area below the 1.20 level is supportive. It looks like a little more to go towards the downside at the moment.
GBP/USD — The pound looks bullish at the moment. However, the 1.3750 level looks as psychological resistance. Hence, a break above this level is seen as a major move to the upside. In the meantime, the market could likely go sideways to build enough momentum to make a strong move to the upside.