GBP/USD turned around short of the tough cluster of supports at 1.6219/1.6196 and now appears to be ready to challenge 1.6343/32.
Once the currency pair stepped down to the support at 1.3711/1.3684, most of the technical indicators on the daily charts turned bullish.
Last three days are indicating that the pair is most likely range bound.
Pair seems to be struggling with the 2011 high after a bounce form the August high yesterday.
Pair continued to depreciate, but seems to have found support at 89 cents.
Pair is continuing to demonstrate the propensity to advance above the 142 JPY, but wasn't able to do so whole last week.
USD/CHF is currently undergoing a bullish correction, which should terminate either at the monthly S2 level or at 0.8930 (Feb 2012 low).
USD/JPY has finally arrived at the May high, but now it may be difficult for the price to cross the supply area between the monthly R1 at 104.12 and 103.74.
January high at 1.6390 proved to be an unreliable support level and allowed the dip to reach the 20-day SMA, which is deemed to be insufficiently strong in order to fully stop the sell-off.
Being that yesterday the currency pair failed to pass through the key resistance at 1.3777, some of the weekly technical indicators turned bearish, meaning that a possibility of a rally is currently decreasing.
For the second day in a row the pair is trading between the 0.8329 and 0.8220.
Bounce from the 20-day SMA was short lived as the pair dipped once again.
Pair seems to have gained momentum as it continues to depreciate and at the moment is testing weekly R2.
Pair took a step back ahead of the monthly and weekly R1, but does not seems to be giving up yet.
Although USD/CHF seems to be well-supported by 0.8851/33 right now, the risks are deemed to be heavily skewed to the downside.
The pair seems to have managed to hang onto the rising support line at 102.70 and is therefore likely to continue ascending towards the nearest important resistance at 104.12/103.68, as suggested by the indicators on the daily and monthly charts.
GBP/USD failed to sustain the recovery, but for now remains underpinned by the support at 1.6415/1.6355, meaning the current dip may not extend down to 1.6206/04.
At the moment EUR/USD is forcing its way through a tough supply area created by the major down-trend resistance and the recent peak.
Pair continued to trail lower today, but received a bullish impetus from the 20-day SMA/August high at 1.0588/66.
Pair failed at monthly and weekly R1 slightly above the 83 cent mark and at the moment has fallen till 82 cent mark while breaching 20-day SMA/weekly PP on the way.
Pair failed to gain momentum after a bounce from the weekly PP yesterday and at the moment is trading below it.
Pair seems to have lost momentum after touching 142 JPY.
While the monthly S2 did not succeed at halting the currency pair, USD/CHF seems to have found support at 0.8856/51.
USD/JPY failed to surpass the local peak (Dec 3) yesterday and as a result slipped down the weekly PP.