Technical Analysis for GBPUSD USDJPY & EURUSD

June 27 2022

GBPUSD D1 Trade at http://www.8dcglobal.com

Cable has some upside momentum, but has stalled a couple of times recently at 1.2320/40 resistance, a break of 1.2340 would target 1.2380/1.2400.

Another failure at 1.2320/40 resistance would see the pound fall back to 1.2220 support and possible have another crack at 1.2180/60 in extension.


After recording a new multi year high of 136.60 last week the USD corrected back down to 134.40 support and has since attempted a to mount a couple of new rallies higher.

However the dollar has been unable so far to break back above 135.40, which is our key pivot point that would open up more gains to 136.20 and very likely retest 136.60.

While we remain below 135.40 there is some risk for more attempts to break 134.40/20 and possibly a deeper correction to 133.60.


Will the EURUSD manage break above 1.0600/10 today, or will it fail again ?

If the Bulls get their way, then a break will first open up 1.0650/60 and possibly 1.0690/1.0700 in extension.

Failure to break and hold 1.0600 would see a drop first to 1.0540 and then 1.0490.

Trade Forex and so much more at http://www.8dcglobal.com

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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