On the H4 timeframe, prices are still facing bullish pressure from our support at 1.21336, in line with the horizontal swing low support and 61.8% retracement where we could see a limited upside above this level with 1.22900 as our first resistance target. Failure to hold above the 1.21336 support level could see a swing towards our next support target at 1.20700. Price is holding above ascending trendline support as well.<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n GBP\/USD:<\/b><\/p>\n Looking at the weekly chart, we can see that prices are facing bullish pressure from our ascending trend line and support at 1.40000 where we could see a further upside above this level to our resistance target at 1.43000, in line with the 78.6% fibonacci extension. The daily time frame echoes the same bullish view as well where we could see a limited upside above our support level at 1.40000 with 1.43000 as our resistance target.\u00a0<\/span><\/p>\n On the H4 timeframe, prices are trading between our support and resistance levels at 1.41123 and 1.42200 respectively. A break above the resistance at 1.42200 in line with our 127.2% fibonacci extension could see a further push up to our next resistance target at 1.43000. Currently,prices are holding above the ascending trendline support and a bounce towards 1.42200 resistance level could be possible. EMA is also below prices, showing a bullish pressure in prices, consistent with our weekly and daily bias.\u00a0<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n AUD\/USD:<\/b><\/p>\n From the Weekly timeframe, we see price bouncing from the ascending trendline support, in line with 61.8% fibonacci retracement, before pushing towards previous swing high resistance at level at 0.78591.\u00a0 From the daily timeframe, we see that price has also bounced from the ascending trendline in line with 127% fibonacci retracement, where we may see a push up towards the 0.78591 level, in line with the weekly view.<\/span><\/p>\n On the H4 timeframe, We see price pushing towards 0.77678, in line with 78.6% fibonacci retracement, where we could potentially look for shorts towards the Daily resistance level before price creates new levels of low. However, if price fails to hold beneath this level, we may see it swing towards the 127% fibonacci retracement level at 0.783, in line with the larger timeframe bullish view.<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n USD\/JPY<\/b><\/p>\n From the weekly timeframe, prices are facing resistance from horizontal swing high resistance which coincides with 50% Fibonacci retracement and 78.6% Fibonacci extension, taking support from 104.224 level which is in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension. On the daily time frame, prices are facing support from 108.425 level which coincides with 61.8% Fibonacci retracement and 50% Fibonacci extension. Prices might bounce towards daily resistance level 110.978 in line with 78.6% Fibonacci retracement. Daily EMA is also below prices, showing a bullish pressure for prices.\u00a0<\/span><\/p>\n On the H4 timeframe, prices might take support on 109.066 support level in line with 61.8% Fibonacci retracement and 100% Fibonacci extension. Prices might push up towards the daily resistance level of 110.978. If prices did not push up further, prices could fall and take support on 108.425\u00a0 level, in line with daily support levelt. EMA is also below prices, showing a bullish pressure for prices.\u00a0\u00a0<\/span><\/p>\n \u00a0<\/span>Areas of consideration:<\/span><\/p>\n USD\/CAD:<\/b><\/p>\n From the Weekly timeframe, we see price trending between the previous swing high in line with 78.6% fibonacci retracement, and the ascending trendline, it is currently testing the support level from 11th May (2015), in line with 61.8%, 161.8% fibonacci extension. From the daily timeframe, we see that price bounced from the recent support level 1.20284 in line with 61.8% fibonacci extension, where it\u2019s consolidating between this level and 1.21336, in line with 78.6% fibonacci extension, 61.8% fibonacci retracement.<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n USD\/CHF:<\/b><\/p>\n USD\/CHF is now testing the weekly 0.89800 support, in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. The daily chart shows that price is now holding below the key daily 0.92300 support-turned-resistance, and has also broken below the ascending trendline support-turned-resistance. The weekly 0.89500 support level is a key level to watch.<\/span><\/p>\n On the H4 chart, we can see that price is now retesting the key weekly 0.89500 support level, in line with 61.8% Fibonacci extension. We also note that price is now holding below the moving average resistance, showing bearish pressure in line with our analysis. In this scenario, a break and close below the key 0.89500 support would see price swing towards the next weekly 0.87600 support level. Otherwise, price could also pull back to retest the 0.90800 resistance and moving average resistance\u00a0 as it continues to move sideways.<\/span><\/p>\n Areas of consideration:<\/span><\/p>\n\n
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\n<\/span>The H4 timeframe shows price breaking beneath the level of 1.20705, in line with 78.6%, 78.6% fibonacci retracement and horizontal graphical overlap, where we saw a further drop\u00a0 towards 1.20255, in line with Weekly, daily support, 127% and 161.8% fibonacci retracement. Currently price finds resistance at the previous support area of 1.20705, where we may expect a pull-back down to 1.20255, in line with 78.6% fibonacci retracement, on top of the confirmation from previous days.<\/span><\/p>\n\n
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