EURUSD grinds major support
 

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The euro retreated further as strong GDP data from America saw another 100 pips wiped off the pair. On the chart, the price is grinding against the recent bottom at 1.1650, as this is a critical level to halt the bearish momentum. A further downturn would trigger a liquidation of positions of those who bought the dip, causing a correction towards 1.1500. Bulls will need to lift offers around 1.1700 to ease the pressure; then, 1.1820 is the level to clear before a sustained rebound can occur.
 

GBPUSD another dollar victim
 

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Sterling also struggled against the greenback as solid US data raised doubts about whether the Fed would engage in further rate cuts this year, which supported the dollar. 1.3400 from a previously faded bounce is a major resistance to clear to shake out bears and to open the door towards the recent peak at 1.3530. Failing that, sellers could view it as confirmation that the directional bias remains down and would therefore double down on their bets. A drop below 1.3320 would make the pound more vulnerable to an extended sell-off, potentially pushing prices below 1.3300.
 

US 30 struggles for support
 

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The Dow fell as investors assessed the prediction from the Fed’s next rate meeting. On the chart, the price has pulled back towards 45900, and a series of lower lows with limited upside indicates that buyers have trimmed their exposure. With the RSI stuck in an oversold area, 46400 is the level to watch for a potential reversal by the bulls. 46200 is a fresh resistance level in case of a bounce, as traders look ahead to this week’s non-farm payroll numbers

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