GBP/USD: Stabilizing at the 1.41 range
|EUR/USD
Grinding higher.
-
EUR/USD is bouncing back following slight decline at 1.2286. Expected to increase along the 1.2360 range. Hourly support and resistance are given at 1.2165 (17/01/2018 low) and 1.2537 (31/01/2018 high). The technical structure suggests short-term increase.
-
In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).
Stay on top of the markets with Swissquote’s News & Analysis
GBP/USD
Stabilizing at the 1.41 range.
-
GBP/USD is having a consolidation phase along the 1.41 range following recent break of hourly resistance at 1.4151 (05/02/2018). Hourly support and resistance remain at 1.3765 (09/02/2018 low) and 1.4345 (25/01/2018 high). The short-term bullish pattern is maintained. The technical structure suggests continued shortterm sideways trading moves.
-
The long-term technical pattern is reversing. The Brexit vote had paved the way for further decline but the pair is moving to 2016 highs. Long-term support and resistance are given at 1.1841 (07/10/2017 low) and 1.5018 (24/06/2016 high).
USD/JPY
Starting a recovery phase.
-
USD/JPY is recovering from recent fall at 104.64, breaking hourly support at 105.29 (02/03/2018). Expected to strengthen along the 105.20 range. Hourly support and resistance are now given at 104.30 (08/11/2016 low) and 107.90 (14/02/2018 high). The bearish pattern started in January 2018 is maintained. The short-term technical structure suggests short-term increase.
-
We favor a long-term bearish bias. Support remains at 101.20 (09/11/2016 low). A gradual rise toward the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 101.20 (09/11/2016 low). The pair trades largely below its 200 DMA.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.