EUR/USD
Current level – 1.1075
The EUR/USD blasted through the support levels at 1.1141 and 1.1110 and is currently preparing for a test of the important levels at 1.1073. If the pair manages to break through this support, the long-term downtrend from the higher time frames should reassert itself and bring an end to the short-term uptrend from the beginning of October. If this bearish scenario does indeed become a reality, the move down should gain momentum towards 1.1000 and an impulse towards 1.0960 becomes more likely. In the positive direction major resistance remains at 1.1170, with a more minor one at 1.1110.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1110 | 1.1170 | 1.1070 | 1.1000 |
| 1.1140 | 1.1200 | 1.1000 | 1.0960 |
USD/JPY
Current level – 109.03
The upward move gained momentum after the pair successfully breached above the resistance level at 108.90 and now is heading to its next target – the resistance at 109.20-109.30. In case USD/JPY manages to break through this resistance, buyers should gain more confidence and push the pair towards the 109.70-110.00 levels. However, we might see a deeper retracement towards the area around 108.90 due to some profit taking. A stronger level of support remains 108.50.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 109.20 | 109.70 | 108.90 | 108.20 |
| 109.70 | 110.00 | 108.50 | 108.00 |
GBP/USD
Current level – 1.2878
The Cable continues to trade in the range between 1.2780 and 1.3000. A possible breach of either side of the range would help the pair find a clear direction.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2910 | 1.3000 | 1.2840 | 1.2780 |
| 1.2970 | 1.3180 | 1.2780 | 1.2550 |
