After touching 1.3350 resistance, GBPUSD pulled back from 1.3381. Deeper decline would likely be seen and the target would be at 1.3100 area. As long as 1.3100 support holds, the fall could be treated as consolidation for the uptrend from 1.2772, one more rise towards 1.3500 is still possible after the consolidation. On the downside, a breakdown below 1.3100 support would indicate that the upside movement chad completed at 1.3381 already, then another fall to 1.2960 area could be seen.
USDJPY stays above a rising trend line on the 4-hour chart and remains in the uptrend from 110.77. Further rise could be expected and next target would be at 112.50 area. Near term support is at 111.50, below this level could bring the price back towards the trend line.
AUDUSD moved sideways in a trading range between 0.7041 and 0.7097. As long as 0.7041 support holds, the price action in the range could be treated as consolidation for the uptrend from 0.7003, further rise towards 0.7170 area is still possible after the consolidation. Only a breakdown below 0.7041 support could bring the price back towards 0.7000.
EURUSD moved sideways in a trading range between 1.1294 and 1.1344. As long as 1.1294 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.1176, further rise towards 1.1400 is still possible after the consolidation. On the downside, a breakdown below 1.1294 support would indicate that the upside movement had completed at 1.1344 already, then the pair would find next support level at around 1.1230.
GBPUSD’s fall from 1.3381 extended to as low as 1.3184. Deeper decline is still possible in the coming days and next target would be at 1.3100 area. Resistance is now at 1.3300, only a break of this level could trigger another bullish movement towards 1.3500.
EURUSD extended it upside movement from 1.1176 to as high as 1.1359. Further rise could be expected in a couple of days and next target would be at 1.1400 area. Key support is at 1.1294, only a breakdown below this level could signal completion of the uptrend.
GBPUSD remains in the uptrend from 1.2960, the fall from 1.3381 is likely consolidation for the uptrend. Support is at 1.3184, as long as this level holds, another rise towards 1.3500 could be expected after the consolidation. On the downside, a breakdown below 1.3184 support would indicate that the upside movement had completed at 1.3381 already, then deeper decline towards 1.3000 could be seen.