Forex Technical Cross Pairs analysis November 12, 2019

EUR/JPY

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EUR/JPY closed near 120.30 and attempted to bounce from the support level. However, the bullish movement reversed today and the pair currently fall below its opening level. We might see another closing level between 120.00 – 120.30. At the current time, the pair range span between 120.00 – 121.50.

Today critical levels to watch:

Support: 120.00, 119.20, 119.00

Resistance: 120.30, 121.50

EUR/GBP

We might have a major development in EUR/GBP as the pair closed lower below yesterday. If the bear follow-through by bringing the pair lower today or in the coming days then EUR/GBP will resume its bearish trend.

today critical levels to watch:

Support: 0.8500

Resistance: 0.8600, 0.8750, 0.8800

GBP/JPY

No Breakout yet from the triangle formation in GBP/JPY. Traders will continue waiting for a breakout in GBP/JPY before placing long-term positions in the pair. We favor bullish breakout in the pair. If the pair breakout lower then 135.00 – 136.00 will become the level to look for long positions.

Today Critical level to watch:

Support: 140.00, 137.00, 136.00

Resistance: 141.00

GBP/CHF

GBP/CHF situation continues sideline for now inside the triangle pattern. The situation is the same as the GBP/JPY situation. We expect more bullish movement in the pair and think it will make bullish breakout. 1.2500 is the level to watch for long positions if the pair make bearish correction.

Today critical levels to watch:

Support: 1.2700, 1.2600, 1.2500, 1.2300

Resistance: 1.2900, 1.3000

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