8DCFX

Technical Analysis of GBPUSD, USDJPY, & EURUSD

July 25 2022

GBPUSD

Fridays failed break out attempt at 1.2040/60, has seen the Pound fall to inter-day support at 1.1970/60 already today. A break of this support would then target further weakness towards the 1.1920/1.1900 target area.

However, as long as support at 1.1970/60 holds there could be another upside attempt. First resistance is found at 1.2010/20, which if broken would allow for another run at the 1.2050/60 strong resistance area.

USDJPY

USDJPY has recovered some ground following Fridays dramatic sell off.

It hit first the daily resistance this morning at 136.60. However, it was soon sold off. There is some support now at 135.90 which could provide a base for another run to 136.60 and possibly 136.90 in extension.

A break down below 135.90 risks further loses towards 135.60 possibly 135.20.

EURUSD

EURUSD finding some support this morning at 1.0180/70, which if holds would allow for gains towards resistance 1.0220/30. The EUR needs to break this first resistance for another attempt at last weeks highs of 1.0270/80.

However, failure to break up would see renewed downside pressure to first break 1.0180/70 and then target the 1.0130/20 support.

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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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