EURUSD Daily Pivots
| R3 | 1.1427 |
| R2 | 1.1395 |
| R1 | 1.1342 |
| Pivot | 1.131 |
| S1 | 1.1258 |
| S2 | 1.1225 |
| S3 | 1.1173 |
EURUSD is currently testing the lower support near 1.12688 after the break of the trend line. If the support at 1.12688 holds, we could potentially see the EURUSD pick up momentum to the upside. However, failure to support prices at 1.12688 could see further downside moves, targeting the next support at 1.1141 levels.
USDJPY Daily Pivots
| R3 | 119.304 |
| R2 | 118.883 |
| R1 | 118.143 |
| Pivot | 117.722 |
| S1 | 116.982 |
| S2 | 116.561 |
| S3 | 115.821 |
USDJPY continues to look choppy trading within the tight range as seen in the chart above. The minor falling trend line is indicative of any break out to the upside considering price is trading near the major support level with no clear directional bias as of yet. A break of the trend line could see a potential retest back to 118.1 levels, while we need to see a clear break of the support at 117.5 levels for further declines in the pair.
GBPUSD Daily Pivots
| R3 | 1.5225 |
| R2 | 1.5160 |
| R1 | 1.5118 |
| Pivot | 1.5053 |
| S1 | 1.5011 |
| S2 | 1.4946 |
| S3 | 1.4904 |
GBPUSD is looking to form a potential inverted head and shoulders patterns. Although this is not complete yet, the pattern would be valid so as the declines do not dip below 1.504 levels to form the right shoulder. Should this pattern be valid, we could expect a rally towards 1.51 levels, which takes us back into the range of this pair.
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