EURUSD Daily Pivots
| R3 | 1.1110 |
| R2 | 1.1029 |
| R1 | 1.0963 |
| Pivot | 1.0881 |
| S1 | 1.0815 |
| S2 | 1.0733 |
| S3 | 1.0667 |
 
EURUSD is currently testing the lower trend line of the price channel and looks very likely to break this trend line. If successful, it would test all the way to the lows of 1.0632 levels on break out from the lower trend line and a possible retest to 1.08907 levels. If we consider the ascending triangle’s pattern, we could expect to see the first target come near 1.073 levels. The declines to 1.063 could question any short/medium term bullish bias. For the moment, EURUSD on a successful break out looks poised to hit the lows to 1.0632.
USDJPY Daily Pivots
| R3 | 120.039 |
| R2 | 119.767 |
| R1 | 119.472 |
| Pivot | 119.2 |
| S1 | 118.905 |
| S2 | 118.633 |
| S3 | 118.338 |
USDJPY bounced off 118.414 but looks weak for the moment. A rally towards 120.16 cannot be ruled out as the broken support was not tested for resistance. Price action in USDJPY looks tricky as there are both strong resistance and support levels on either side of the price. Therefore, to the upside, a break above 120.465 could start to shift the USDJPY bias to the upside, while a close below 118.414 will see potential downside risks towards 117 levels.
GBPUSD Daily Pivots
| R3 | 1.515 |
| R2 | 1.5072 |
| R1 | 1.4962 |
| Pivot | 1.4884 |
| S1 | 1.4773 |
| S2 | 1.4696 |
| S3 | 1.4585 |
GBPUSD is still stuck within the range of 1.495 and 1.482 with no signs of any break out yet. We continue to watch this pair which exhibits close to two weeks of sideways price action in this region and could signal a massive break out in either direction. Immediate support comes in at 1.47225 while to the upside, we could see price struggle near 1.495 which would then pave way to 1.50/1.51 levels eventually.
