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GBP/USD dipped to 1.2445 last week but recovered since then. Initial bias remains neutral this week, and further rise is mildly in favor. On the upside, break of 1.2633 will resume the rally from 1.2298 to 1.2708 resistance next. However, firm break of 1.2445 will indicate that this rebound has completed, and revive near term […]

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06/08/2024

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 141.68; (P) 144.17; (R1) 146.64; More… Intraday bias in USD/JPY remains neutral for consolidation above 141.67. Upside of recovery should be limited by 150.88 resistance to bring another fall. On the downside, break of 141.67 will resume the decline from 161.94 to 140.25 support next. In the bigger picture, the strong break […]
10/05/2024

USD/JPY Daily Outlook

Daily Pivots: (S1) 155.12; (P) 155.54; (R1) 155.91; More… Intraday bias in USD/JPY remains mildly on the upside for the moment. Rebound from 151.86 is seen as the second leg of the corrective pattern from 160.20 high. Further rise would be seen to 157.98 resistance. On the downside, below 154.23 minor support will turn intraday […]
13/12/2023

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2512; (P) 1.2564; (R1) 1.2614; More… Intraday bias in GBP/USD stays neutral at this point. Further decline is mildly in favor as long as 1.2615 minor resistance holds. Break of 1.2501 will resume the fall from 1.2731 short term top to to 55 D EMA (now at 1.2452). Sustained break there will […]