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OUTLOOK: Price Signal Summary - GBPUSD Bear Trend Remains Intact

OUTLOOK
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  • In FX, the trend condition in EURUSD remains bearish and short-term gains are considered corrective. The Jan 2 sharp sell-off reinforces the bear theme and note too that moving average studies are in a bear-mode position, highlighting a dominant downtrend. The 20-day EMA, at 1.0396, has been pierced. The next resistance to watch is 1.0458, the Dec 30 high. The bear trigger has been defined at 1.0226, the Jan 2 low.
  • The trend condition in GBPUSD remains bearish and Wednesday’s sharp sell-off reinforces the bear trend. The pair has traded lower again, today. The move down has also confirmed a resumption of the bear leg. Sights are on 1.2226 next, 0.618 projection of the Sep 26 - Nov 22 - Dec 6 price swing. Initial firm trend resistance has been defined at 1.2576, the Jan 7 high. The bear trigger is 1.2353, the Jan 2 low.
  • USDJPY bulls remain in the driver’s seat. This week’s fresh cycle high, reinforces the bullish condition. The recent breach of 156.75, the Nov 15 high, confirmed a resumption of the uptrend and has paved the way for a move towards 159.45, the Jul 12 high. Initial firm support is 156.44, the 20-day EMA.
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  • In FX, the trend condition in EURUSD remains bearish and short-term gains are considered corrective. The Jan 2 sharp sell-off reinforces the bear theme and note too that moving average studies are in a bear-mode position, highlighting a dominant downtrend. The 20-day EMA, at 1.0396, has been pierced. The next resistance to watch is 1.0458, the Dec 30 high. The bear trigger has been defined at 1.0226, the Jan 2 low.
  • The trend condition in GBPUSD remains bearish and Wednesday’s sharp sell-off reinforces the bear trend. The pair has traded lower again, today. The move down has also confirmed a resumption of the bear leg. Sights are on 1.2226 next, 0.618 projection of the Sep 26 - Nov 22 - Dec 6 price swing. Initial firm trend resistance has been defined at 1.2576, the Jan 7 high. The bear trigger is 1.2353, the Jan 2 low.
  • USDJPY bulls remain in the driver’s seat. This week’s fresh cycle high, reinforces the bullish condition. The recent breach of 156.75, the Nov 15 high, confirmed a resumption of the uptrend and has paved the way for a move towards 159.45, the Jul 12 high. Initial firm support is 156.44, the 20-day EMA.