EUR/JPY
EUR/JPY initially dipped lower during the session before reversing sharply to erase earlier losses. Despite this sharp rebound, the pair remains firmly within its established trading range between the 23.6% Fibonacci support (179.71) and 38.2% Fibonacci resistance (180.90). The overall consolidation continues without a clear directional trend. Traders are advised to continue waiting for further confirmation or a decisive breakout outside the current boundary before entering new positions.
Today’s critical levels to watch:
Support: 178.00
Resistance: 180.00, 183.40, 185.84, 190.00
EUR/GBP
EUR/GBP extended its upward movement, breaking past immediate hurdle levels and placing the pair on track to potentially test the 0.8620 resistance level. Despite the short-term bullish momentum, a broader bearish view is maintained on the pair. Traders should wait for strong bearish rejection signals near key resistance levels (0.8600–0.8620) to confirm a potential rollover before taking short positions.
Today’s critical levels to watch:
Support: 0.8525, 0.8500
Resistance: 0.8580, 0.8600, 0.8700, 0.8750
GBP/JPY
Similar to EUR/JPY, GBP/JPY came under early bearish pressure before managing to recover and trade back above its opening level. No new lower swing low was made, indicating that sellers lack the momentum to force a deeper decline. The pair continues to trade within the range of its previous massive bullish candlestick. Given the strong intraday recovery, the pair might attempt another push upward.
Today’s critical level to watch:
Support: 208.00, 205.00
Resistance: 210.00, 211.50, 214.965, 218.00
GBP/CHF
GBP/CHF staged a slight bullish reaction as buyers initiated a bounce near the previous swing low area (1.0890–1.0911). Although the initial upward move managed to surpass the previous day’s high, the pair encountered resistance, pulled back, and remains trapped inside the broader range for now. If market dynamics remain unchanged, the pair may resume its downward trajectory toward the bottom of the green box consolidation area near 1.0843. A sustained move above resistance at 1.0978 would be necessary to alter the current neutral-to-bearish stance.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0660, 1.0600, 1.0500, 1.03599
Resistance: 1.1060, 1.1100