A consolidation pattern unfolds after the failed test at 112.90, so allow an extension towards 111.90 before renewal of the general upmove to 114.50.
GBP/USD Current level - 1.3237
The dip to 1.3100 found a reliable support and the reversal signals a positive bias, for a rise towards 1.3360, en route to 1.3460. Minor support is projected at 1.3190.
Friday's rise peaked at 1.1750 resistance and the outlook remains positive above 1.1670 static support, for another leg upwards, to 1.1790 and even 1.1830.
The dip to 1.1660 should be the finale of the consolidation pattern and the outlook is positive, for a rise towards 1.1790. Initial intraday support is projected at 1.1710.
USD/JPY Current level - 110.70
The slide below 110.80 low signals a risk of a further depreciation, towards 110.25 area.
The failure at 1.1750 signals a bearish bias, for a break through 1.1670, towards 1.1620 support. On the senior frames current slide should be considered a part of the prolonged consolidation, preceding a rise towards 1.1830.
The bias is bearish, for a break through 1.1570, towards 1.1510 low. A violation of the latter will challenge 1.1300 zone. Initial resistance lies at 1.1600.
The pair is aiming at a tight test of 1.1640 resistance and the latter is expected to initiate a new wave downwards, for a break through 1.1509, en route to 1.1300 area.
GBP/USD Current level - 1.2932
The general bias remains bearish, for a renewal of the downtrend towards 1.2770. Intraday there is a risk of another upswing to 1.2980 minor resistance.
The pair failed to break through 1.1640 hurdle and currently the bias is neutral, within the 1.1570-1640 range. My outlook is rather bearish below 1.1640, for a slide towards 1.1509.
GBP/USD Current level - 1.2873
The general bias remains bearish, for a renewal of the downtrend towards 1.2770. Intraday there is a risk of another upswing to 1.2980 minor resistance.
The slide through 1.1509 shows, that the prolonged consolidation since the end of May is over and the outlook is bearish, for a dip to 1.1300 area. Initial hurdle lies at 1.1510.
GBP/USD Current level - 1.2745
The downtrend is intact, heading towards 1.2570-2620 area. Initial resistance lies at 1.2770, followed by the crucial one at 1.2850.
The return above 110.40 has neutralized the bearish outlook and the bias is positive, for a test of 111.20 crucial level. I favor a break through the latter to initiate a rise towards 112.10 peak.
The slide through 110.70 crucial low shows a reversal of the whole rise since 110.10 and the outlook is bearish below 111.20, for s dip to the last week's low.
GBP/USD Current level - 1.2712
The bias remains bearish below 1.2740, for a slide towards 1.2570 area. Crucial on the upside is 1.2830.
