GBP/USD trades quietly near the midpoint of its consolidation range, with traders watching for a breakout as questions remain about the dollar's next move.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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EUR/JPY is pulling back from the ¥176 level but remains in a long-term uptrend, with support at the gap near ¥173.25 and the rising 50-day EMA around ¥174.22.
Bitcoin rallied above $110,000 on Monday, rebounding from the 200-day EMA, with a potential breakout above $114,000 opening the door to $123,000.
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The US dollar climbed against the Canadian dollar on Monday, testing the key 1.40 resistance as market sentiment remains bullish amid economic divergence.
The US dollar slipped against the Swiss franc on Monday, testing strong support at 0.79 as choppy price action hints at indecision and possible reversal ahead.
Gold rallied strongly on Monday after early choppiness, with analysts urging caution as momentum appears overextended and sharp pullbacks remain possible.
The U.S. dollar bounced off key support against the yen, forming a bullish reversal pattern as traders target ¥153, supported by interest rate differentials.
The euro remains under pressure after rejecting key technical resistance, with concerns over global growth and a stronger U.S. dollar weighing on EUR/USD sentiment.
MicroStrategy's Monday surge lost steam quickly, with technical weakness, fading Bitcoin correlation, and bearish momentum suggesting further declines ahead.
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GBP/JPY consolidates near ¥202 following volatile sessions, with key support at ¥200 and resistance at ¥204–¥205, while the bullish trend and positive carry continue to attract buyers.
The US Dollar is gaining strongly as the London session open approaches, and we see the price falling with firm momentum.
BTC/USD remains under pressure below key resistance, with technical indicators and macro uncertainty hinting at a possible retest of recent lows near $103K.
The AUD/USD pair is showing bullish momentum after forming a double-bottom pattern, with upcoming US inflation data and China trade talks in focus.
The GBP/USD pair is under pressure as a bearish head-and-shoulders pattern forms, with upcoming UK and US inflation data set to determine the next move.
EUR/USD is showing signs of a bullish reversal, buoyed by a weaker USD, Fed rate cut expectations, and stabilizing political sentiment in Europe.