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Price Signal Summary - GBPUSD Trend Needle Continues To Point South

OUTLOOK
  • In FX, EURUSD conditions conditions are unchanged and a bear trend remains intact. The recent breach of 1.0686, the Sep 7 low, confirmed a resumption of the downtrend. Sights are on 1.0611, 38.2% retracement of the Sep’22 - Jul’23 upleg. Initial firm resistance is 1.0766, the 20-day EMA.
  • The trend needle in GBPUSD started today’s European session on a softer note and traded to a fresh cycle low. This confirms a resumption of the bear trend and maintains the price sequence of lower lows and lower highs. The focus is 1.2308, the May 25 low and a key support. On the upside, initial firm resistance is seen at 1.2548, the Sep 11 high.
  • The USDJPY trend needle continues to point north and the pair has traded higher today. The focus is on a climb towards 148.40 next, the Nov 4 2022 high. Moving average studies remain in bull mode position, highlighting the market's positive sentiment. Initial firm support lies at 145.91, the Sep 11 low.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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