GBP/USD inclined and approached 61.8% Fibonacci at 1.4285, attempting to breach this level. A break above this level will be a bullish signal, supported by ADX and RSI.
Moving averages carry the movements from the underside as far as 1.4175 holds, but we prefer to see the pair above 1.4230 - Fib of 50% - and we hold onto yesterday’s positions intact.
Support: 1.4230 – 1.4175 – 1.4110
Resistance: 1.4145 – 1.4210 – 1.4260
Direction: Bullish
Another attempt to incline was witnessed and we see the pair approach 113% Fibonacci at 1.1450.
A break above 1.1450 will bring further upside actions towards 1.1500 and 1.1525.
Risk versus reward ratio is inappropriate and thus we hold onto our yesterday’s position.
Support: : 1.1400 – 1.1360 – 1.1310
Resistance: 1.1450 –1.1500 – 1.1525
Direction: Bullish
The bearishness on USD/CHF has been stopped by 0.9500 psychological yesterday, while the pair continues to fluctuate between this psychological level and 0.9550 regions.
The recent consolidation in addition to the oversold sign on RSI14 suggests that we may witness some kind of recovery soon.
We will be bullish as far as 0.9445 - initial support - holds; noting that, a break above 0.9575 will confirm the idea of correction.
Support: 0.9500-0.9460-0.9375
Resistance: 0.9600-0.9690-0.9720
Direction: Bullish recovery
As we mentioned earlier, USD/JPY has showed signals of pause for the string bearish trend seen during the previous period, influenced by the oversold sign on RSI14.
Yesterday’s candle that has been formed after testing the strong support of 107.60 could be a sign for resuming the recovery today.
Currently, the pair is hitting 108.30 regions, and a break above it with a four-hour closing will ease the path towards 109.00 and 109.25 levels.
We will be bullish today, playing the potential correction.
Support: 108.00-107.60-107.25
Resistance: 108.80-109.35-109.75
Direction: Potential recovery