EUR/USD and GBP/USD Range for Now, Breakout for Later

Talking Points:

- EURUSD remains rangebound between 1.3680 and 1.3770.

- GBPUSD can't crack 1.6700/35 to the upside.

- Need catalyst - perhaps Fed's Yellen on Thursday, US GDP on Friday.

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It was a quiet overnight session once again as traders have carved out clear ranges over the past several days in several major US Dollar pairs. As we enter the second half of the week there are a few "high" importance data points that could help provoke moves out of these ranges [Read more: DailyFX Economic Calendar]. While we're respecting these ranges, we recognize the potential for breakouts later on.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail [email protected]

Follow him on Twitter at @CVecchioFX