GBPUSD Analysis.
GBPUSD continues its downward movement from 1.5997 and the fall extended to as low as 1.5296 level. Key resistance is now at 1.5488, as long as this level holds, downtrend is expected to continue and next target would be at 1.5200 area. However, a break above 1.5488 key resistance will indicate that the downtrend from 1.5997 has terminated, then the following upward move could bring price to 1.5600-1.5700 area.
AUDUSD Analysis.
Being contained by 0.9221 previous high resistance, AUDUSD pulled back from 0.9180, suggesting minor consolidation of uptrend is underway. Deeper decline could be seen in a couple of days and target would be at 0.9000 zone. As long as 0.9000 support holds, uptrend is expected to resume and another rise towards 0.9221 is still possible.
USDCAD Analysis.
USDCAD rebounded strongly from 1.0339, suggesting that cycle bottom had been formed on 4-hour chart and the fall from 1.0672 had completed at 1.0339 already. Consolidation in a range between 1.0339 and 1.0568 is expected in a couple of days.
EURUSD Analysis.
EURUSD failed to break above 1.2921 key resistance and pulled back from 1.2917. Now the fall could possibly be resumption of downtrend from 1.3333, deeper decline towards 1.2587 previous low is expected after a minor consolidation, a breakdown below this level will target 1.2400-1.2500 area.
USDCHF Analysis.
USDCHF traded in a range between 1.0064 and 1.0237. Key resistance is now at 1.0237, as long as this level holds, downtrend from 1.0624 is expected to resume and another fall to 1.0000 area is still possible.
USDJPY Analysis.
USDJPY broke below 83.62 previous low, and the fall from 89.15 (Jul 12 high) extended to as low as 83.51 level. Resistance is now at 84.00, as long as this level holds, bearish move is expected to continue and next target would be at 83.00 zone. However, above 84.00 will indicate that lengthier consolidation of downtrend is underway, then bounce to 85.00-85.50 area could be seen.
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