GBPUSD
The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5920 suggesting a rebound. However a break of these levels would entail a return to the lower limit of the channel to 1.5730.
According to previous events, the market indicates a bullish opportunity for GBPUSD on the levels of 1.5920 with a 1st objective of 1.6050, then 1.6080. A break in 1.5890 would invalidate this scenario.
EURUSD
The spot rate approaches EURUSD the upper limit of its medium term bearish channel to 1.4410 suggesting a decline. However a break of these levels would free up significant potential and initiate a bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4410 with a 1st objective of 1.4500, then 1.4540. A break in 1.4390 would invalidate this scenario.
EURJPY
As we Expected Level 115.70 limited further decline of the pair.
Long positions from this level are +90 pips for EURJPY.
It's recommended that some of the trading lot should be closed as the pair can face resistance at the current levels.
Area 116.00 - 116.20 can be a good area to add long positions again.
SL should be advanced to be placed below 115.40.
I hope this info could help for those who seeking for reliable information. Thanks.
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