FX.co ★ EUR trades near 1.12 level while GBP attempts to reverse. Forex video forecast on March 3.

The euro approached the level of 1.12 and continues to rise. Do not rush with buying at highs. You'd better wait for the downward correction until the price reaches the key support levels.

The pound buyers still hope that the price will rebound and have formed the lower boundary of the uptrend channel.

Signals for EURUSD:

The breakout of the level 1.1165 may push the euro higher to the levels of 1.1203 and 1.1239

The breakout of the level 1.1123 will trigger the euro's sell-off in the range between 1.1084 and 1.1042

Signals for GBPUSD:

The breakout of the level 1.2796 will push the pound higher to the range between 1.2847 and 1.2891

The breakout of the level 1.2744 will trigger the pound's sell-off in the range between 1.2707 and 1.2664

Fundamental data:

The eurozone consumer price index

The eurozone producer price index

The eurozone unemployment rate