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EUR/GBP is trading lower. However, as long as prices remain below the resistance at 0.9176 (declining trendline), the short-term technical structure is biased to the downside. Hourly support is given at 0.9095 (11/09/2017). Resistance lies at 0.9306 (29/07/2017 high).

In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).

The Aussie bounces to 0.8043 (Fibo 38.2% of 0.8124/0.7997 pullback) on Wednesday after reversal from fresh high at 0.8124 found footstep at 0.8000 zone, where rising 10SMA contained correction.

Recovery entered thick hourly cloud (0.8025/0.8061) with break above 0.8043 barrier needed to generate initial bullish signal and lift above hourly cloud to confirm reversal.

Bullish setup of daily studies remains supportive, however, the upside action may be limited by strong fall of copper price, which in steep bearish acceleration from two-year high at $3.1770 and broke below psychological $3.0000 support today.

The Aussie dollar is also focusing Australian jobs data, due early Thursday, for fresh signals.

Forecasts show 15K new jobs added in August vs 27.9K new employments in July.

Unemployment in Australia is expected to stay unchanged at 5.6% in August.

Res: 0.8043, 0.8061, 0.8076, 0.8100
Sup: 0.8011, 0.7997, 0.7961, 0.7939

AUD/USD is consolidating lower after the pair surged towards 0.8125 (08/09/2017 high). Hourly support can be found at 0.8029 (intraday high). Key resistance is given at 0.8164 (14/05/2015 high). Expected to further consolidate.

In the long-term, the trend is largely negative since 2011. Key supports stands at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.

USD/CAD is consolidating. Hourly support is located at 1.1945 (29/04/2015 low). Resistance is now given at a distance at 1.2778 (15/08/2017 low). Expected to show continued short-term bearish pressures.

In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head further lower.

USD/CHF is trying to bounce. Strong resistance is given at 0.9771 (15/06/2017 high). The pair is likely to head further lower below 0.9421 (03/05/2017). Expected to show renewed bearish pressures.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.

USD/JPY is consolidating higher but the trend remains clearly negative. Strong support is located at 107.32 (08/09/2017 high). Expected to show further downside pressures.

We favor a long-term bearish bias. Support is now given at 99.02 (10/08/2013 low). A gradual rise towards the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

GBP/USD is trading higher and has broken strong resistance at 1.3267 (03/08/2017 high). Strong support is given at 1.3023 (06/09/2017 low). Expected to show continued short-term bullish pressures.

The long-term technical pattern is even more negative since the Brexit vote has paved the way for further decline. Long-term support can be found at 1.1841 (07/10/2017 low). Long-term resistance is given around 1.35 and would indicate a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

EUR/USD lies in a bullish trend. Hourly resistance can be found at 1.2092 (08/09/2017 high) while hourly support lies at 1.1823 (31/08/2017 low). Stronger support is given at a distance at 1.1662 (17/08/2017 low). Expected to show renewed bullish pressures.

In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

Sterling found itself vulnerable to heavy losses during Wednesday’s trading session after UK wage growth figures disappointed, remaining steady at 2.1% in the months up to July.

Although the UK unemployment rate fell to 4.3%, the lowest level since 1975, this was offset by disappointing figures in average weekly earnings, that only grew by 2.1%.

Wage growth is clearly struggling to keep with inflation, which currently stands at 2.9% and as such, is likely to squeeze households further. With the gap visibly widening between pay and rising prices, concerns are mounting over the longevity of the UK’s consumer-driven economic growth.

Today’s UK labour report should add more spice to Thursday’s BoE policy meeting, especially when considering how the static wage growth may pressure the central bank to raise rates sooner than expected to tame inflation. While markets widely expect UK interest rates to be left unchanged in September, the main focus will revolve around the tone of the meeting and whether there are any dissents. A hawkish interest rate hold, coupled with clues on when the central bank plans to take action, is likely to offer Sterling a welcome boost.

Rising inflation, subdued wage growth, and Brexit uncertainty have left the Bank of England in a complicated position; it will be interesting to see how the central bank puts this complicated jigsaw of events together.

The EUR/USD has been following the technicals perfectly as I showed on my previous Session Recap and Live webinars. Both entries (long and short) have been respected and at this point we can see a possible uptrend continuation. Bullish SHS (inverted head and shoulders) pattern formed straight above the ascending trend line making the POC zone 1.1940-50. If the price retraces to the POC we might see a spike. However a clear break or 4h close bove 1.1995 is needed for a continuation towards 1.2020 and 1.2060. If 1.1910 support is taken out, bull will probably lose the steam and the pair might drop tp 1.1870.