Intraday allow a dip to 1.1650 before bouncing back again towards 1.1830 hurdle. Key intraday resistance lies at 1.1775.
USD/JPY Current level - 110.56
My outlook here is counter-trend, for a sell-off through 110.10, en route to 109.20 and 107.80.
GBP/USD Current level - 1.3357
The consolidation pattern below 1.3460 is still underway and the intraday bias is bearish, for a dip to 1.3290. The later would provide a reliable base for another leg upwards on the senior frames, towards 1.3620.
The corrective pattern below 1.1830 is over with yesterday's low at 1.1725 and the bias is positive, for a break through 1.1836, towards 1.2050 zone. The market could remain on hold tillECB rate announcement today and unwind a bullish move afterwards.
USD/JPY Current level - 109.93
The short-lived spike to 110.80 was the final leg of the upmove since 108.10 low and my outlook is bearish, for a slide towards 109.20, en route to 107.90.
The spike to 1.1850 was followed by a massive sell-off and currently the pair is approaching 1.1510 lows. The slide is running out of steam, so I favor a corrective rebound towards 1.1650 and even probably to the major 1.1720. Minor intraday resistance lies at 1.1616.
USD/JPY Current level - 110.70
My outlook here is counter-trend below 111.40, for a dip to 109.20.
Yesterday's peak at 1.1650 could be the finale of the consolidation above 1.1540 and a break through 1.1510 will signal a renewal of the general downtrend, towards 1.1300.
GBP/USD Current level - 1.3200
The consolidation pattern above 1.3200 seems complete and the outlook is bearish, for a slide towards 1.3040 area.
The bias has switched to positive with yesterday's break through 1.1600, confirming a failure at 1.1510. The intraday outlook is positive above 1.1600, for a rise towards 1.1720.
GBP/USD Current level - 1.3271
The violation of 1.3215 signals, that a bottom is in place at 1.3100 and the bias is positive above 1.3215, for a break through 1.3300, towards 1.3460.
The rise peaked below 1.1730 and the intraday outlook is already negative, for a slide towards 1.1600 area. Initial support lies at 1.1670, followed by the crucial 1.1625.
The reversal at 1.1600 signals, that the slide below 1.1690 is corrective, so my outlook here is bullish, for a rise towards 1.1730 major resistance. This time we should witness a break through the mentioned hurdle, for a rise towards 1.1830.
GBP/USD Current level - 1.3185
I consider the pullback after 1.3215 to be corrective in nature, so my outlook is bullish, for a break through the mentioned hurdle, towards 1.3310.
The pair is currently testing 1.1730 resistance area and I favor a break through the mentioned hurdle to allow a rise towards 1.1830. Initial intraday support lies at 1.1670, followed by the crucial 1.1630.
The uptrend broke through 1.1730 and the outlook remains bullish, for a rise towards 1.1830 area. Initial intraday support lies at 1.1726 and crucial is 1.1680.
GBP/USD Current level - 1.3313
The bias is positive above 1.3310, for a rise towards 1.3460 zone. Crucial on the downside is 1.3200 area.
The reversal at 1.1790 signals a bearish outlook, for a dip to 1.1680. On the senior frames it still unclear if this is a finale of the prolonged consolidation above 1.1510.
GBP/USD Current level - 1.3229
A reversal has been confirmed at 1.3360 and my outlook is bearish below 1.3320, for a slide towards 1.3100 area.
The break through 111.40 peak clearly shows, that the prolonged consolidation since the end of May is over and the pair will challenge 114.50 resistance zone. Intraday, the bias is also positive, for a rise towards 112.90.
EUR/USD Current level - 1.1680
The bias is negative, for a slide towards 1.1600. Crucial on the upside is yesterday's peak at 1.1755.
