Forex Technical Cross Pairs analysis August 5, 2020

EUR/JPY

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No close above 125.00 resistance yet in EUR/JPY. The pair continue pressing to the upside and surpassed 125.00 today. Will the pair maintain its bullish pressure and close above 125.00 at the end of the day? Alternatively, will it close lower and start a bearish correction?

Today critical levels to watch:

Support: 123.30, 121.50

Resistance: 125.00

EUR/GBP

EUR/GBP closed the previous trading day on the positive side above 0.9000. The pair make bullish follow-through in today’s trading session. If the pair could maintain its bullish pressure then we might see it challenge June and July’s high again. On the upside, 0.9300 is the upward target.

today critical levels to watch:

Support: 0.9000, 0.8920

Resistance: 0.9100, 0.9300

GBP/JPY

GBP/JPY bullish movement halted around 138.50. The pair currently consolidating near the level and looking to add bullish gain toward 140.00. Traders might want to continue to hold long positions while waiting for further reaction. Short positions should be avoided until there is a major bearish reaction near 140.00 resistance.

Today Critical level to watch:

Support: 136.00, 135.00

Resistance: 140.00

GBP/CHF

GBP/CHF rejected from the 1.2000 resistance and closed lower. The pair currently attempt to move lower again toward 1.1870. At the current time, the pair expected to consolidate between 1.1870 – 1.2000 and traders will wait for a breakout.

Today critical levels to watch:

Support: 1.1867, 1.1750, 1.1730

Resistance: 1.2000

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