GBPUSD: Susceptible With Caution

GBPUSD: With continued downside pressure seen the past week, further downside is likely though a correction could occur in the new week. On the other hand, support lies at the 1.6921 level where a break will aim at the 1.6900 levels. A break of here will turn attention to the 1.6850 level. Further down, support lies at the 1.6800 level. Conversely, resistance resides at the 1.7042 level with a break aiming at the 1.7100 level where a violation will aim…

EURUSD: Vulnerable, Targets Further Downside With Caution EURUSD: Outlook for EUR remains lower following a bearish price extension the past week. Corrective may occur in the new week. Support lies at the 1.3000 level where a break will expose the 1.3350 level. Below here will pave the way for a move lower towards the 1.3300 level. If this continues, expect further downside to occur towards the 1.3250 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside,…

USDCHF: Remains On The Offensive

USDCHF: With a second week of recovery higher occurring the past week, further upside is likely. On the upside, resistance resides at the 0.9100 level where a break will aim at the 0.9150 level. Further out, resistance resides at the 0.9200 level. A breather may occur here and turn the pair lower but if broken it will aim at the 0.9250 level. On the downside, support lies at the 0.8950 level. A cut through here will target the 0.8900 level where a…

EURJPY: Triggers Recovery, Eyes More Strength

EURJPY- With a temporary bottom formed and recovery higher triggered, further strength is now envisaged. On the upside, resistance resides at the 137.50 level where a break if seen will threaten further upside towards the 1.38.00. Further out, resistance resides at the 139.27 level where a break will aim at the 140.00. We may see a breather here but if that fails, further gains could follow towards the 140.50 level. Support comes in at the…