EUR/USD
Current level – 1.1024
The pair is in a short-term uptrend that gained momentum at the end of last week. On Friday we witnessed a test at the resistance 1.1065, an eventual breach this week would make bulls gain confidence for a more sustainable rally towards1.1177. Should there be a retracement, the euro could meet support at around 1.099 and 1.0964 in addition.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1065 | 1.1177 | 1.0989 | 1.0939 |
| 1.1100 | 1.1230 | 1.0964 | 1.0880 |
USD/JPY
Current level – 108.19
USDJPY recovered over optimism on the trade talks and the partial deal between the U.S. and China. Expectations remain positive for a breach at 108.40 and a rally towards the next target at 108.80. As per the price action around 108.40, a retracement is highly possible so buyers can take some profits and regain control again around 107.90-108.00.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.41 | 108.90 | 108.00 | 107.40 |
| 108.60 | 109.30 | 107.80 | 107.00 |
GBP/USD
Current level – 1.2590
The chance for an orderly Brexit and reaching a deal brought optimism back and the sterling leaped to the levels from the end of June. With the deadline for Brexit approaching, all news around the talks between the UK and the EU will be closely monitored by traders. Volatility is likely to remain high in the next few weeks. The GBP/USD started the week on the back foot and for now that move can be observed as a retracement that should remain limited above 1.2500. The next major support zones are the not so close levels around 1.2340 and the low at 1.2200. First significant resistance for the bulls should be 1.2735.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2670 | 1.2890 | 1.2500 | 1.2345 |
| 1.2735 | 1.2970 | 1.2425 | 1.2200 |
