GBP/USD: plan for the European session on January 14. Pound buyers suffered a defeat

EUR/USD: plan for the European session on January 14. The dollar rose after inflation data

Intraday strategies for beginner traders on January 14

Few macroeconomic reports are scheduled for Wednesday, and none of them are important

The GBP/USD pair declined slightly on Tuesday, which could have been triggered by the US inflation report

The EUR/USD currency pair remains in a local downtrend

The Eagle indicator is showing a negative signal as it has reached overbought levels, so we will look for opportunities to sell below $4,635 in the coming hours.

If the euro reaches 2/8 Murray or the bottom of the downtrend channel in the coming hours, we could expect this area to be a good point to open long positions.

Our trading plan for the coming hours is to sell below $96,800 or $97,000 with targets at $93,750 and around the 21 SMA located at $91,700.

The Eagle indicator is showing overbought signals. Thus, a sharp drop is likely to occur in the coming hours, so we will look for opportunities to open short positions below $61.00.