GBPUSD Hesitates Below Key Resistance Zone
GBPUSD: The pair continues to see price hesitation below its key resistance at 1.3337 level. However, while that resistance remains unbroken, we could see the pair weaken. Support lies at the 1.3250 level where a break will turn attention to the 1.3200 level. Further down, support lies at the 1.3100 level. Below here will set the stage for more weakness towards the 1.3050 level. Conversely, resistance stands at the 1.3250 levels with a turn above here allowing more strength to build up towards the 1.3300 level. Further out, resistance resides at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD continues to face further upside pressure but with caution.
EURUSD Weakens Further, Eyes 1.1700 Support Zone
EURUSD: With the pair weakening further during Tuesday trading session, more decline is envisaged with eyes on its psycho support at 1.1700. Resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. Below here will open the door for more weakness towards the 1.1550. All in all, EURUSD continues to face further bear threats.
USDJPY Remains On The Offensive, Strengthens
USDJPY: The pair looks to correct further higher as it followed through higher on the back of its Tuesday gains on Wednesday. On the downside, support comes in at the 112.50 level where a break if seen will aim at the 112.00 level. A cut through here will turn focus to the 111.50 level and possibly lower towards the 111.00 level. On the upside, resistance resides at the 113.00 level. Further out, we envisage a possible move towards the 113.50 level. Further out, resistance resides at the 114.00 level with a turn above here aiming at the 114.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, USDJPY faces further bullish offensive.
EURUSD: With the pair seen following through on the back of its Wednesday gains on Thursday, more strength is expected in the days ahead. Resistance comes in at 1.1850 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.1950 level where a break will expose the 1.2000 level. Its daily RSI is bullish and pointing higher suggesting more strength. Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600. All in all, EURUSD continues to face recovery threats with eyes on 1.1879 zone.
GBPUSD Backs Off Lower Prices, Eyes Further Recovery
GBPUSD: The With a temporary bottom seen, we may see further recovery higher. Support lies at the 1.3150 level where a break will turn attention to the 1.3100 level. Further down, support lies at the 1.3050 level. Below here will set the stage for more weakness towards the 1.3000 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD continues to face further downside pressure but with caution of a recovery.
EURUSD Outlook Lower On Corrective Pullbacks
EURUSD: With the pair seen closing lower the past week, more weakness is envisaged. Resistance comes in at 1.1850 levels with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.1950 level where a break will expose the 1.2000 level. Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD continues to face downside threats.
GBPUSD: Threatening Further Upside On Corrective Recovery
GBPUSD: The pair looks to follow through higher on the back of its Friday price recovery. Support lies at the 1.3150 level where a break will turn attention to the 1.3100 level. Further down, support lies at the 1.3050 level. Below here will set the stage for more weakness towards the 1.3000 level. Conversely, resistance stands at the 1.3250 levels with a turn above here allowing more strength to build up towards the 1.3300 level. Further out, resistance resides at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD continues to face further upside pressure on correction
GOLD: Weakens On Failed Follow Through Higher
GOLD: The commodity now faces further weakness after failing to follow through higher on the back of its Monday gains. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,290.00 level where a break will aim at the 1,300.00 level. A turn above there will expose the 1,310.00 level. Further out, resistance stands at the 1,320.00 level. All in all, GOLD looks to weaken further lower.
GBPUSD: The pair took back its Tuesday losses on a rally on Wednesday. This development has opened the door for more strength towards the 1.3300 zone. Support lies at the 1.3200 level where a break will turn attention to the 1.3150 level. Further down, support lies at the 1.3100 level. Below here will set the stage for more weakness towards the 1.3050 level. Conversely, resistance stands at the 1.3300 levels with a turn above here allowing more strength to build up towards the 1.3350 level. Further out, resistance resides at the 1.3400 level followed by the 1.3450 level. On the whole, GBPUSD continues to face further upside threats on recovery.
EURGBP: Vulnerable, Eyes Move Towards The 0.8855 Zone
EURGBP- The cross remains biased to downside and looks to extend that weakness with eyes on 0.8855 level. Support lies at the 0.8850 Level where a violation will turn focus to the 0.8800 level. A break will expose the 0.8750 level. Its daily RSI is bearish and pointing lower suggesting further decline. Resistance resides at the 0.8950 level where a violation if seen will turn risk towards the 0.9000 level. Further up, resistance resides at 0.9050 level followed by the 0.9100 level. All in all, EURGBP remains biased to the downside on further weakness
GBPUSD: Vulnerable, Sees Price Extension
GBPUSD: The pair weakened further during Friday trading session opening the door additional weakness. Support lies at the 1.3050 level where a break will turn attention to the 1.3000 level. Further down, support lies at the 1.2950 level. Below here will set the stage for more weakness towards the 1.2900 level. Conversely, resistance stands at the 1.3150 levels with a turn above here allowing more strength to build up towards the 1.3200 level. Further out, resistance resides at the 1.3250 level followed by the 1.3300 level. On the whole, GBPUSD continues to face further downside pressure.
EURGBP Weakens, Eyes More Decline Towards 0.8800 Zone
EURGBP- The cross remains biased to downside as it reversed its previous week gains to close lower on Friday. Support lies at the 0.8800 Level where a violation will turn focus to the 0.8750 level. A break will expose the 0.8700 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Resistance resides at the 0.8900 level where a violation if seen will turn risk towards the 0.8950 level. Further up, resistance resides at 0.9000 level followed by the 0.9050 level. All in all, EURGBP remains biased to the downside
EURUSD Bearish, Vulnerable But With Caution
EURUSD: With the pair selling off the past week, more weakness is likely. Resistance comes in at 1.1650 level with a cut through here opening the door for more upside towards the 1.1700 level. Further up, resistance lies at the 1.1750 level where a break will expose the 1.1800 level. Conversely, support lies at the 1.1550 level where a violation will aim at the 1.1500 level. A break of here will aim at the 1.1450 level. Below here will open the door for more weakness towards the 1.1400. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD continues to face downside threats but with caution of a recovery.
GBPUSD Triggers Recovery Higher With Eyes On Key Resistance
GBPUSD: The pair was seen triggering a recovery during early trading today following its price rejection on Friday. This leaves the pair targeting more strength in the days ahead possibly towards the 1.3278 zone. On the downside, support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD continues to face further upside pressure on recovery.
CRUDE OIL: Retains Broader Uptrend, Eyes The 55.21 Zone
CRUDE OIL: The commodity may be hesitating but it retains its broader medium term uptrend. On the downside, support resides at the 53.50 level where a break will expose the 53.00 level. A cut through here will set the stage for a run at the 52.50 level. Further down, support resides at the 52.00 level. On the upside, resistance resides at the 54.50 level. Further out, resistance comes in at the 55.00 level. A break above here will aim at the 55.50 level and then the 56.00 level followed by the 56.50 level. Its weekly RSI is bullish and pointing higher suggesting more strength in the medium term. All in all, CRUDE OIL remains biased to the upside in the medium term.
GBPUSD: Eyes More upside Pressure Towards Key Resistance
GBPUSD: The pair looks to strengthen further higher towards it key resistance at 1.3337. Support lies at the 1.3250 level where a break will turn attention to the 1.3200 level. Further down, support lies at the 1.3150 level. Below here will set the stage for more weakness towards the 1.3100 level. Conversely, resistance stands at the 1.3350 levels with a turn above here allowing more strength to build up towards the 1.3400 level. Further out, resistance resides at the 1.3450 level followed by the 1.3500 level. On the whole, GBPUSD continues to face further upside pressure on correction
EURUSD Consolidates With Downside Bias
EURUSD: With the pair facing consolidation threats, directional move is now a challenge. Resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further consolidation threats.
EURUSD Remains Vulnerable To The Downside On Bear Pressure
EURUSD: With the pair trading flat following price rejection the past week, more weakness is likely. Resistance comes in at 1.1650 level with a cut through here opening the door for more upside towards the 1.1700 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further recovery higher.
EURGBP: Weakens On Price Follow Through
EURGBP- The cross saw a follow through lower on Monday. This is coming on the of its Friday weakness. Support lies at the 0.8800 Level where a violation will turn focus to the 0.8750 level. A break will expose the 0.8700 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Resistance resides at the 0.8900 level where a violation if seen will turn risk towards the 0.8950 level. Further up, resistance resides at 0.9000 level followed by the 0.9050 level. All in all, EURGBP remains biased to the downside.
GBPUSD: Still Faces Recovery Threats
GBPUSD: The pair may be hesitating but still faces corrective recovery threats. Support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD continues to face further upside pressure on corrective recovery
