Daily Technical Analysis

EUR/USD

Current level – 1.1891

The Bulls managed to easily overcome the resistance at 1.1770 and, currently, the goal is to reach the next more significant one at 1.1930. Having in mind the larger time frames, we could expect the pursuit of even more significant levels in the upward direction, namely the resistances of 1.2080 and 1.2550. In a downward direction, it is possible to witness a correction towards the first significant support, which is the level of 1.1770, before reaching the mentioned resistances.

USD/JPY

Current level – 104.23

The U.S. dollar continues to lose ground against the Japanese yen as well. The bears have taken full control as the support level at 105.10 was overcome and the currency pair is currently aiming for the next support at 104.00. Successful violation of this level could lead to a deepening of the sell-off and the price reaching 102.30. In a positive direction, the main resistance before the bulls remains the level of 106.00.

GBP/USD

Current level – 1.3129

The consolidation above the resistance level of 1.2945 did not last long and the bulls managed to gain new positions, reaching and overcoming the next resistance zone at 1.3100. A possible scenario for the currency pair involves a corrective downward movement before the bulls gain new strength and push the market around the levels of the next significant resistance at 1.3300. In a downward direction, the first support lies at the already receding level of 1.2800.