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Daily Technical Analysis

EUR/USD

Current level – 1.1826

The consolidation of the currency pair remains between 1.1800 – 1.1843 as part of a corrective move that has been ongoing since the end of last week. The sentiment is still positive, with the main resistance for the bulls being the zone at 1.1843. On the other hand, if the bears manage to maintain their positions and succeed in establishing themselves on the market, we may expect a further decline and a breach of the zone at 1.1800, which would strengthen the expectations for a prolonged sell-off

Resistance Support
intraday intraweek intraday intraweek
1.1843 1.1900 1.1800 1.1700
1.1875 1.1950 1.1748 1.1700

USD/JPY

Current level – 109.77

The situation for the U.S. dollar against the Japanese yen remains unchanged as the range between 109.60 – 110.40 is still intact. At the moment, neither the bulls nor the bears have managed to prevail, but the bulls’ second failed attempt to breach the resistance at the upper boundary of the channel apparently encouraged the bears and they took the move towards the support zone at 109.60. At the time of writing, the currency pair is consolidating just above the mentioned support, but with a successful breach of this level, the bears could prevail and pave the way for an attack on the next support zone of 109.23.

Resistance Support
intraday intraweek intraday intraweek
110.20 110.78 109.58 109.23
110.40 111.00 109.58 108.74

GBP/USD

Current level – 1.3842

The corrective phase for the currency pair ended as the bulls managed to limit the sell-off at the 1.3730 support level. After the British pound rose against the U.S. dollar during yesterday’s trading session, the pair is now preparing to test the resistance at 1.3851. A successful breach of the mentioned level would confirm the positive sentiment, which is aiming to reach the local high at 1.3890, and we may witness the formation of a range before that. Today, investors will focus their attention on the GDP data for the UK (06:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.3851 1.3890 1.3788 1.3731
1.3890 1.4000 1.3765 1.3698

DeltaStock Inc.
DeltaStock Inc.http://www.deltastock.com/
These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

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