EUR/USD and GBP/USD: SG continues to recommend selling both pairs

Societe Generale notes today that "the EUR/USD is approaching the earlier lows of 1.04/1.05, a level that will determine a possible new wave of decline.

In the short term, any increase appears to be limited by the resistance level at 1.1085.

Regarding the GBP/USD, we think that a break below 1.5080/1.50 would confirm a shoulder/head/shoulder configuration and could lead to a test of the chart support level at 1.48, and possibly 1.45.

In the short term, if a recovery takes place, it should remain locked under the 1.5330 resistance level."