GBPUSD Analysis.
GBPUSD moved sideways in a range between 1.6215 and 1.6343. The price action in the range is treated as consolidation of uptrend from 1.6030. Initial support is at 1.6215, as long as this level holds, uptrend could be expected to resume, and another rise towards 1.6400 is possible. However, a breakdown below 1.6215 will indicate that a cycle top had been formed at 1.6343 level on 4-hour chart, then pullback towards the uptrend line from 1.5751 to 1.6030 could be seen.
AUDUSD Analysis.
AUDUSD is forming a cycle bottom at 1.0075 level on 4-hour chart. Further rise towards 1.0201 resistance is expected later today, a break above this level will confirm the cycle bottom and indicate that the long term uptrend from 0.8066 has resumed, then next target would be at 1.0300 area. Support is at 1.0075, only break above this level could trigger another fall to 1.0000 zone.
USDJPY Analysis.
USDJPY formed a cycle top at 83.03 level on 4-hour chart. Sideways movement in a range between 81.57 and 83.03 would likely be seen in next several days.
EURUSD Analysis.
EURUSD remains in uptrend from 1.3428, and the rise extended to as high as 1.4006. Support is at the rising trend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to continue and next target would be at 1.4050-1.4100 area.
USDCHF Analysis.
USDCHF formed a cycle bottom at 0.9201 level on 4-hour chart. Range trading between 0.9201 and 0.9450 would likely be seen in a couple of days. However, the bounce from 0.9201 is treated as consolidation of downtrend, another fall towards 0.9000 is still possible after consolidation, and a break below 0.9201 could signal resumption of downtrend.
USDCAD Analysis.
USDCAD formed a cycle bottom at 0.9683 level on 4-hour chart. Range trading between 0.9683 and 0.9800 is possible in a couple of days. Key support is at 0.9683, a breakdown below this level will indicate that the downtrend from 0.9958 has resumed, then next target would be at 0.9600 zone.
