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GBPUSD: Bearish for 1.4120 after a brief consolidation

Stoyan Mihaylov DeltaStock.com

EUR/USD Current level - 1.2373

The bias is slightly positive, with a risk of another leg upwards, to 1.2430. Key support lies at 1.2340.

resistance
intraday	intraweek
1.2430	1.2560
1.2470	1.2560

support
intraday	intraweek
1.2340	1.2160
1.2260	1.2090

resistance

intraday

intraweek

1.2430

1.2560

1.2470

1.2560

support

intraday

intraweek

1.2340

1.2160

1.2260

1.2090

USD/JPY Current level - 107.42

The outlook remains bullish above 106.60, for a rise towards 108.30 area.

resistance
intraday	intraweek
107.77	108.30
108.30	110.40

support
intraday	intraweek
107.05	105.20
106.60	104.60

resistance

intraday

intraweek

107.77

108.30

110.40

support

intraday

intraweek

107.05

105.20

106.60

104.60

GBP/USD Current level - 1.4200

Yesterday's sell-off reached a local low at 1.4170 and the corrective pattern above that level could challenge 1.4280 resistance before drowning towards 1.4120.

resistance
intraday	intraweek
1.4280	1.4501
1.4344	1.4770

support
intraday	intraweek
1.4170	1.4090
1.4120	1.3960

resistance

intraday

intraweek

1.4280

1.4501

1.4344

1.4770

support

intraday

intraweek

1.4170

1.4090

1.4120

1.3960

Author

Stoyan Mihaylov

DeltaStock.com

Stoyan Mihaylov, 42 years old, a Financial Analyst at Deltastock Inc, has an sixteen-year background as a senior FX Dealer, trading spot and outright forwards.

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