EURUSD Daily Pivots
| R3 | 1.2591 |
| R2 | 1.2538 |
| R1 | 1.2506 |
| Pivot | 1.2453 |
| S1 | 1.242 |
| S2 | 1.2367 |
| S3 | 1.2335 |
 
EURUSD continued its gains for the second day of the week, rising above the 1.245 handle. Price action looks close to testing the main support/resistance level at 1.252 handle which will offer more clues into the direction for EURUSD, with a break of the resistance paving way for the Euro to retrace most of its losses while a successful test of resistance could pave way for a test back to the lower support at 1.236
USDJPY Daily Pivots
| R3 | 119.359 |
| R2 | 118.968 |
| R1 | 118.472 |
| Pivot | 118.081 |
| S1 | 117.585 |
| S2 | 117.194 |
| S3 | 116.698 |
The price action in USDJPY is indicative that a rally is unlikely and a potential test back to the main support at 117.572 is likely on the cards with the down sloping price channel providing the short term support and resistance. From the weekly charts, we can notice that the USDJPY has been enjoying its rally for the past 4 weeks, so potentially this week could see the pair pause its rally before the uptrend resumes.
GBPUSD Daily Pivots
| R3 | 1.5832 |
| R2 | 1.5784 |
| R1 | 1.5745 |
| Pivot | 1.5696 |
| S1 | 1.5658 |
| S2 | 1.5609 |
| S3 | 1.5571 |
GBPUSD could possibly be looking for direction today, as the pair dips lower to test the daily pivot level for support. If the support at 1.57 – 1.569 holds, the Cable could possibly look towards a rally to test the main resistance at 1.57625 handle. Alternatively, a break of support near the daily pivot could see the GBPUSD decline lower to the established support at 1.559.
