EURUSD Daily Pivots
| R3 | 1.1036 |
| R2 | 1.0927 |
| R1 | 1.0843 |
| Pivot | 1.0733 |
| S1 | 1.065 |
| S2 | 1.0539 |
| S3 | 1.0457 |
 
EURUSD made a new monthly high near 1.08505 levels last week but has failed to follow through on this. Current price action is hovering nera the 1.0871 levels and failure to close higher will see a decline in the currency with a test of support to 1.0693 levels. If this support holds, price could then prepare for a bullish continuation to the upside. If the support fails to hold prices, we could see a bit of consolidation take place before price eventually breaks lower targeting 1.0635 and 1.059 levels.
USDJPY Daily Pivots
| R3 | 120.068 |
| R2 | 119.7 |
| R1 | 119.392 |
| Pivot | 119.09 |
| S1 | 118.771 |
| S2 | 118.414 |
| S3 | 118.035 |
USDJPY has been very choppy near the 119.16 through 118.737 levels. However the downside target for the rising wedge/triangle pattern is not yet achieved as the minimum downside target comes at 118.5 levels. Due to the strong support between 118.9 and 118.73, we can expect this choppy sideways market to persist until price eventually breaks lower.
GBPUSD Daily Pivots
| R3 | 1.5156 |
| R2 | 1.5063 |
| R1 | 1.4998 |
| Pivot | 1.4905 |
| S1 | 1.4839 |
| S2 | 1.4747 |
| S3 | 1.4683 |
GBPUSD made a new monthly high near 1.504 levels and eased lower to trade near the support at 1.49427. We suspect a test at the lower support at 1.483 is due. This will see a break out from the rising price channel which could then potentially see a bearish break out from the price channel making the test to 1.483 critical. If the support holds, GBPUSD could potentially eye further gains, while a break below the support at 1.483 will see a decline lower to 1.4724.
