EUR/USD pair – Daily Chart
The EUR/USD pair ended higher yesterday at 1.2535, after having bounced-off from the support located at 1.2450 levels. The pair trades slightly lower at 1.2518 levels today, with the daily RSI bearish at 46.26 levels. Moreover, the pair has closed above 1.2530 levels opening doors for a re-test of 1.2580 today. Meanwhile, on the hourly chart, the pair appears on its way down toward 1.25, after struggling near 1.2540 levels yesterday. The hourly RSI has turned lower and indicates further downside in the pair. However, a fresh demand for Euros can be anticipated near the 5-SMA level of 1.25. The pair is more likely to test the 50-SMA level of 1.2670, once the 1.2580 resistance is breached. On the other hand, EUR bears may return only below 1.2466 levels.
GBP/USD pair – Daily Chart
The GBP/USD pair ended lower yesterday at 1.5631, after having faced rejection near the 10-SMA level of 1.5687. The pair is trading slightly lower around 1.5620 levels today with the daily RSI oversold at 27.45 levels. Meanwhile, on the hourly chart, the pair has bounced-off once again from the support located at 1.56, although the hourly RSI is still bearish at 42.77 levels. However, the pair is likely to witness a pullback towards 1.57 levels, if it manages to sustain above 1.56 levels during the European session. Moreover, a daily close above the trend line resistance at 1.5690 shall open doors for 1.5750 levels. Overall, the pair should trade rangebound with losses capped around 1.56, while gains capped around the 10-SMA level of 1.5750.
EUR/GBP pair – Daily Chart
The EUR/GBP pair ended higher yesterday at 0.8019, after bouncing-off from the 5-SMA level located at 0.7958. The pair currently trades largely unchanged at 0.8015, with the daily RSI bullish at 66.30 levels. Meanwhile, the hourly chart shows a formation of Price-RSI bearish divergence, which may push the pair down to 0.7990 levels. However, a fresh demand for Euros can be anticipated around 0.80 levels, with the upside capped around the 200-SMA level currently located at 0.8054. Meanwhile, the bears may come-in strong if the pair breaches the support at 0.7970 levels.
GBP/JPY pair – Daily Chart
The GBP/JPY pair ended higher yesterday at 182.77, although the pair could not sustain gains at the day’s high of 183.345. Moreover, the pair faced rejection near 183.40 levels for the second consecutive yesterday. GBP/JPY currently trades at 183.25 levels, with the daily RSI bullish at 68.09 levels. Meanwhile, on the hourly chart, the pair is once again faced rejection near 183.40 levels today. However, a fresh selling pressure can be anticipated only if the pair breaches the support located at 183.00 levels. In such a case, the downside appears restricted around 182.25 levels. On the other hand, the pair may re-test 184.60 levels, if the pair manages to confirm a breach of 182.40 resistance level on the hourly chart.
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