FX.co ★ Fed revises its forecast for US economic recovery. Euro and pound remain under pressure

Signals for the EUR/USD pair:

If the pair breaks through at 1.0835, the euro is likely to increase to 1.0881 and 1.0923.

A breakthrough at 1.0787 can lead to a sell-off of the euro at 1.0728 and 1.0636.

Signals for the GBP/USD pair:

If the pair breaks through at the level of 1.2271, the British pound can rise to 1.2323 and 1.2370.

A breakthrough at 1.2203 can lead to a sell-off of the British pound at 1.2127 and 1.2030.

The following fundamental data is set for release during the day:

• Consumer price index
• ECB's economic bulletin
• US initial applications for unemployment benefits
• Andrew Bailey, Governor of the Bank of England, will deliver a speech.