rose as the US GDP came in below expectations. There were speculations on Thursday the US GDP may come in around 5.0%. The recent gains in EURUSD
appear to be merely corrective as the price nears its current resistance. Failure to post an hourly close above the resistance may lead to corrective weakness in the pair. Likewise, should the price break above the initial resistance the latter resistance (in dark blue) may cap the gains. Only a firm break above the latter resistance (dark blue) may invalidate the short entry and suggest further gains are in store.
Do note this is an hourly time frame rather than a long-term strategy.