EURUSD and GBPUSD maintain bullish trends above moving averages

The GBPUSD currency pair has recently tested its 100-hour moving average at 1.29546. It briefly dropped to 1.2951 but quickly bounced back. This move shows that buyers are actively supporting the market at this important level, keeping a short-term positive outlook. However, if the price falls below the 100-hour moving average and breaks the 200-hour moving average at 1.29318, the market sentiment could shift to a more negative stance. Similarly, the EURUSD tested its 100-hour moving average at 1.08862, where buyers stepped in to support the price. The pair remains in an upward trend for now. Still, if it drops below this support and the 200-hour moving average at 1.08689, the outlook could turn bearish. Both EURUSD and GBPUSD show similar price movements regarding their 100 and 200-hour moving averages. As long as these key levels are maintained, buyers remain in control. There are currently no signs of sellers gaining the upper hand.