EURUSD Daily Pivots
| R3 | 1.2364 |
| R2 | 1.2332 |
| R1 | 1.2282 |
| Pivot | 1.225 |
| S1 | 1.2199 |
| S2 | 1.2168 |
| S3 | 1.2117 |
EURUSD is trading below the major support level at 1.2271 level but the latest H4 candlesticks show a bullish reversal pattern potentially taking shape, which could lift the Euro back above the support level. In such an event, we could see a break of the falling trend line and on a retest of support, a possible retest back to 1.23695 levels. Alternatively, if the support at 1.2271 turns to resistance, EURUSD could look towards the next support at 1.2062.
USDJPY Daily Pivots
| R3 | 120.565 |
| R2 | 120.095 |
| R1 | 119.766 |
| Pivot | 119.296 |
| S1 | 118.967 |
| S2 | 118.497 |
| S3 | 118.168 |
USDJPY looks imminent for declines in the week as the pair broke out from the rising price channel. Failure to break above the resistance at 119.66 could indicate a potential decline towards 118.97 levels, which could bring some renewed strength into the Dollar Yen. A likely rally from support of 118.974 could possibly look to break the resistance at 119.66 this time around. A break below 118.974 could however clear way for more declines back to 117.614.
GBPUSD Daily Pivots
| R3 | 1.5749 |
| R2 | 1.5715 |
| R1 | 1.5672 |
| Pivot | 1.5638 |
| S1 | 1.5596 |
| S2 | 1.5562 |
| S3 | 1.5519 |
GBPUSD looks poised for more declines with the latest consolidation forming into a possible bearish pennant pattern. A break below the major support at 1.567 is essential to raise the conviction of a downside move, while the resistance at 1.5723 will be essential in capping any potential rallies..
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