Forex Technical Cross Pairs analysis August 3, 2020

EUR/JPY

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EUR/JPY extended its bullish pressure and managed to reach 125.00 resistance level. The pair currently show bearish reaction but not a significant one. If the pair start moving lower then traders could use 123.30 as the level to take long positions.

Today critical levels to watch:

Support: 123.30, 121.50

Resistance: 125.00

EUR/GBP

EUR/GBP stick near the 0.9000 without bullish reaction yet. The pair showed not much reaction today and it is expected to continue trade near the level. Traders could use the level to place long positions with a tight stop below it.

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9100, 0.9300

GBP/JPY

The bullish jump from the 135.00 – 136.00 area brings GBP/JPY higher and currently aiming to reach 140.00 resistance level. The pair mostly ranging in today’s trading session. No change to the outlook yet, traders who have long positions could continue to hold it with 140.00 as the target.

Today Critical level to watch:

Support: 136.00, 135.00

Resistance: 140.00

GBP/CHF

1.2000 resistance level reached today which means the bullish target has been completed. GBP/CHF shows no bearish reaction yet near the resistance level. If the pair rejected from the level then GBP/CHF set to target between 1.1870 – 1.2000. Meanwhile, traders will wait for either breakout or rejection from the 1.2000.

Today critical levels to watch:

Support: 1.1867, 1.1750, 1.1730

Resistance: 1.2000

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