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Daily Pivots: (S1) 1.2190; (P) 1.2295; (R1) 1.2352; More...

GBP/USD's decline resumed after brief consolidations and intraday bias is back on the downside. Current down trend should target 200% projection of 1.3641 to 1.2999 from 1.3297 at 1.2013 next. On the upside, above 1.2399 minor resistance will turn intraday bias neutral again. But outlook will stay bearish as long as 1.2637 resistance holds.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) at least at the same degree as the rise from 1.1409 (2020 low). That is, fall from 1.4248 could be a leg inside the pattern from 1.1409, or resuming the longer term down trend. In either case, deeper decline is expected as long as 1.2999 support turned resistance holds. Next target is 1.1409 low.

Daily Pivots: (S1) 0.9887; (P) 0.9925; (R1) 0.9979; More....

Further rally could be seen in USD/CHF for now. But considering bearish divergence condition in 4 hour MACD, upside should be limited by 261.8% projection of 0.9149 to 0.9459 from 0.9193 at 1.0005 to bring correction. On the downside, break of 0.9826 will indicate short term topping, and turn bias to the downside for pull back.

In the bigger picture, down trend from 1.0342 (2016 high) should have completed with three waves down to 0.8756 (2021 low) already. Rise from 0.8756 is likely a medium term up trend of its own. Sustained trading above 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864 will pave the way to 161.8% projection at 1.0306, which is close to 1.0342 (2016 high). This will remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 129.35; (P) 130.08; (R1) 130.71; More...

USD/JPY is staying in consolidation from 131.34 and intraday bias remains neutral. Further rally is expected with 128.61 support intact. Above 131.34 will target 261.8% projection of 109.11 to 116.34 from 114.40 at 133.26. However, firm break of 128.61 will indicate short term topping, and turn bias to the downside for deeper pull back.

In the bigger picture, current rally is seen as part of the long term up trend form 75.56 (2011 low). Sustained trading above 61.8% projection of 75.56 (2011 low) to 125.85 (2015 high) from 98.97 at 130.04 will pave the way to 100% projection at 149.26, which is close to 147.68 (1998 high). For now, this will remain the favored case as long as 121.27 support holds.

Daily Pivots: (S1) 0.6897; (P) 0.6976; (R1) 0.7023; More...

AUD/USD's decline resumed after brief consolidations and intraday bias is back on the downside. Current fall is p[art of the decline from 0.8006 and should target 0.6756 medium term fibonacci level next. On the upside, break of 0.7052 minor resistance will turn intraday bias neutral again first. But risk will stay on the downside as long as 0.7265 resistance holds.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low) with fall from 0.7660 as the third leg. Deeper fall should be seen to 50% retracement of 0.5506 to 0.8006 at 0.6756. This coincides with 100% projection of 0.8006 to 0.7105 from 0.7660 at 0.6760. Strong support is expected from 0.6756/60 cluster to contain downside to complete the correction. However, sustained break of 0.6756/60 would argue that AUD/USD is indeed in a medium term down trend.

Daily Pivots: (S1) 1.2929; (P) 1.2985; (R1) 1.3048; More...

Intraday bias in USD/CAD remains neutral for consolidation below 1.3050. Further rally is expected as long as 1.2712 support holds. On the upside, Sustained break of 1.3022 fibonacci level will carry larger bullish implications. Next target will be 100% projection of 1.2005 to 1.2947 from 1.2401 at 1.3343. However, break of 1.2712 will indicate rejection by 1.3022 fibonacci level and turn bias to the downside.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 0.8542; (P) 0.8568; (R1) 0.8611; More...

EUR/GBP's rally resumed after brief consolidation and intraday bias is back on the upside. Further rally should be seen to 0.8697 medium term fibonacci level next. On the downside, break of 0.8514 support is needed to signal short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

Daily Pivots: (S1) 1.5024; (P) 1.5109; (R1) 1.5232; More...

Intraday bias in EUR/AUD is turned neutral for now, with focus on 1.5354 cluster resistance (100% projection of 1.4318 to 1.5053 from 1.4597 at 1.5332. Rejection by this level will maintain medium term bearishness for another fall through 1.4138 low at a later stage. But firm break of 1.5332/54 will argue that the larger trend is reversing. Next target is 161.8% projection at 1.5786 first.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend form 1.9799 (2020 high) is still expected to continue. On resumption, next target is 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623, which is close to 1.3624 long term support (2017 low). However, firm break of 1.5354 will indicate medium term bottoming and bring stronger rally back to 1.6434 key resistance.

Daily Pivots: (S1) 1.0423; (P) 1.0458; (R1) 1.0485; More....

A temporary top was formed at 1.0513, just ahead of 100% projection of 0.9970 to 1.0086 from 1.0400 at 1.0516. Intraday bias is turned neutral first. For now, further rise is still in favor as long as 1.0369 resistance turned support holds. Sustained break of 1.0505 long term resistance will carry larger bullish implications. Next target is 161.8% projection at 1.0782. However, break of 1.0369 will indicate rejection by 1.0505 and turn bias back to the downside for 1.0186 support.

In the bigger picture, as long as 1.0505 support turned resistance (2020 low) holds, long term down trend from 1.2004 (2018 high) is expected to continue. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. However, firm break of 1.0505 will suggest medium term bottoming, and bring stronger rebound towards 1.1149 structural resistance.

Daily Pivots: (S1) 136.00; (P) 136.85; (R1) 137.53; More....

EUR/JPY is still extending the consolidation pattern from 139.99 and intraday bias remains neutral first. In case of another decline, downside should be contained by 38.2% retracement of 124.37 to 139.99 at 134.02 to bring rebound. On the upside, firm break of 139.99 will resume larger up trend for 144.06 medium term projection level.

In the bigger picture, up trend from 114.42 (2020 low) is in progress. Such rise is seen as the third leg of the pattern from 109.30 (2016 low). Next target will be 100% projection of 114.42 to 134.11 from 124.37 at 144.06. In any case, outlook will now remain bullish as long as 124.37 support holds, in case of deep pull back.

Daily Pivots: (S1) 158.25; (P) 159.79; (R1) 160.73; More...

GBP/JPY's fall from 168.50 resumed by breaking through 159.59 and intraday bias is back on the downside. Current fall should be seen to 61.8% retracement of 150.95 to 168.40 at 157.61. Strong support is expected there to complete the correction to bring rebound. On the upside, above 162.16 minor resistance will turn bias back to the upside for retesting 168.40 high. However, sustained break of 157.61 will bring deeper fall back to 150.95 key structural support.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will be a long term bullish signal, and could pave the way back to 195.86 high. This will now remain the favored case as long as 150.95 support holds, even in case of deep pull back.