GBPUSD: Maintains Recovery Bias
GBPUSD: With GBP following through on the back of its recovery during early trading today, it faces risk of continuation of that strength. Resistance resides at the 1.6350 level with a break aiming at the 1.6400 level. A violation will aim at the 1.6450 level and possibly higher towards the 1.6500 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.6250 level where a break will aim at the…Continue
GBPJPY: Declines On Corrective Weakness
GBPJPY – With GBPJPY seen weakening on corrective pullback, more downside is envisaged. On the downside, support comes in at the 173.00 level where a violation will aim at the 172.50 level. A break below here will target the 172.00 level followed by the 171.50 level. Further down, support lies at the 171.00 level. Resistance lies at the 174.50 level followed by the 175.00 level where a break will aim at the 175.50 level. A cut through here will…Continue
AUDUSD: Halts Weakness, Looks To Recover Higher.
AUDUSD: With the pair halting its past week sell off during Thursday trading today, we envisaging a corrective recovery higher in the days ahead. Support lies at the 0.8983 level. A cut through here will turn attention to the 0.8950 level and then the 0.8900 level where a violation will set the stage for a retarget of the 0.8850 level. On the upside, resistance resides at the 0.9108 level where a breach will aim at the 0.9150 level.…Continue
EURUSD: Sets Up To Recovery Higher On Correction
EURUSD: With EUR turning off the 1.2859 level to close with a rejection candle the past week, risk of a recovery higher is now envisaged. Support lies at the 1.2800 level where a break will expose the 1.2750 level. Below here will pave the way for a move lower towards the 1.2870 level. If this continues, expect further downside to occur towards the 1.2650 level. On the upside, resistance lies at the 1.3000 level where a break will aim…Continue