The rebound through 1.2770 resistance has neutralized the negative bias and the pair broke beyond 1.2830 high, in an attempt to test 1.2880 major resistance area. Current slide below 1.2870 high should be considered corrective and my outlook is positive above 1.2810 support, for a rise towards 1.3020. Crucial on the downside is yesterday's low at 1.2736.
A reversal pattern at 82.82 high signals a larger corrective phase, which will aim to test 81.70-80 area before next leg upwards, to 84.80 resistance. Key support on the downside is 81.60 and I expect that area to remain intact.
The uptrend here is intact, currently consolidating below 1.6050 peak and with the reliable support around 1.5970, my outlook is positive, for a rise towards 1.6175 major resistance.
My outlook here remains bullish, for a break through 1.3020 static resistance, en route to 1.3170 high. Crucial on the downside from an intraday point of view is 1.2944, as a violation of that level will signal, that the whole rise from 1.2736 is complete.
After the unsuccessful break of the 1.3020 resistance level, the correction reached levels close to 1.2900. My outlook though remains bullish, for a break through 1.3020 static resistance, en route to 1.3170 high. Crucial on the downside from an intraday point of view is 1.2874, as a violation of that level will signal, that the whole rise from 1.2736 is complete.
Probably the consolidation pattern below 82.82 high is already over with the recent low at 81.67 and a break through 82.62 will confirm that the uptrend is renewed towards 84.80. The major intraday support is projected at 81.60.
After the unsuccessful break of the 1.3020 resistance level, the correction reached 1.2879. My outlook though remains bullish, for a break through 1.3020 static resistance, en route to 1.3170 high. Crucial on the downside from an intraday point of view is 1.2874, as a violation of that level will signal, that the whole rise from 1.2736 is complete.
The consolidation pattern around 82.20 zone after the second test of 82.80 drops a hint at an eventual range on the shorter frames. Only a break above the crucial 82.80 will be considered proof of bullish control. On the downside, support points lie at 81.60, 80.60 and then 79.00.
The Cable outlook remains positive, especially after the break through the decisive 1.6050, en route to 1.6175 major resistance. Key support on the downside is the 1.5960-70 zone.
Dropped from the final hours is corrective and target levels remain the same - 1.3130 and 1.3170. We expect downward movement if the pair eases below 1.3020 and consolidates below the psychological 1.3000.
The pair is stuck in a range in the 81.60-82.80 area. Only a break above the crucial 82.80 will be considered a proof of control of the bulls. On the downside, only a drop below 81.60 and consolidation will be an indication of a trend reversal.
The EUR/USD daily close below 1.29 is a signal of further decline. The downward movement is only corrective in nature, and it is expected to stop at levels between 1.2835 and 1.2880.
The pair is stuck in a range in the 81.60-82.80 area. Only a break above the crucial 82.80 will be considered a proof of control of the bulls. On the downside, only a drop below 81.60 and consolidation will be an indication of a trend reversal.
The GBP/USD pair surged over 1.61 and is finding short term support around 1.6080 level. The next upside target is 1.6140 followed by the 1.6175 major resistance.
The 1.2880 support manages to restrict the bearish movement of the pair for the time being. The trough the resistance zone at 1.3020-40 opened the way for a test of 1.3120. On higher frames the bias is bearish.
The break above the critical 82.80 set uptrend in the pair. The next target is the resistance at 84.20. Failed breakthrough could lead to new range movement in the area 83.20 - 84.20.
The break of the 1.3120 and 1.3170 resistance changes the bias to positive and opens the way for a test of 1.3280 and 1.3380. Critical support is 1.3120.
