The morning update of this report will not be updated tomorrow

EURUSD Current price: 13012

EURUSD

Good morning. Two doji days in a row (indecision). This has helped form a symmetrical triangle on the 1hr chart. What we have to ask ourselves is whether this is a continuation pattern or a reversal? Normally, after a run up, this would have a slight bullish bias as she could be seen as a flag. However, with the bias on the other pairs I ‘think’ we may break to the downside. The Moving Average has held the pair very well and the cloud cover is thinning showing that the support to the downside is waning. We need to wait for a break. Top 13034 bottom 12975

European Confidence figures today at 10.00 am UK

Support levels: 12991 12984 12967

Resistance levels: 13029 13034 13050

LIVE CHART

GBPUSD Current price: 15619

GBPUSD

We had 15634 as our target and the pair made 15637 before forming a doji on the daily chart. We have not turned yet, as expected, and the bias is still slightly to the upside. We need to close below 15592 to confirm that the move down has started. We then have support at 15551 -15509 before opening up the way for much lower lows. If the prediction is correct we could see 15000-14800 for the move lower over the next month.

Support levels: 15592 15551 15509

Resistance levels: 15643 15700 15786

LIVE CHART (Select currency)

USDJPY Current price: 8723

USDJPY

We still have inside solders on the daily chart as long as she can stay inside 8703 but the descending trend line did hold the pair well (8783 now). Daily oscillators are still negative. 1 hr chart we have no clear signal of a move higher yet. If we can make a move higher then she needs to break 8746. Lower trend line is at 8697 that also lines up with 61.8%

Support levels: 8765 8745 8722

Resistance levels: 8788 8800 8850


LIVE CHART (Select currency)

EURGBP Current price: 8335

EURGBP

I can still see the Head and Shoulders formation. We are making lower lows and forming an inside triangle that should help to push the pair through. A close below 8325 and I would look to 8100 as a target.

Support levels: 8325 8292 8259

Resistance levels: 8369 8378 8418

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