Home EUR/USD, USD/JPY, GBP/USD Pivot Points, TA – July 27
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EUR/USD, USD/JPY, GBP/USD Pivot Points, TA – July 27

EURUSD Daily Pivots

R3 1.1077
R2 1.1036
R1 1.1008
Pivot 1.0966
S1 1.0937
S2 1.0895
S3 1.0866



EURUSD (1.10): EURUSD has maintained a strong short term bullish momentum after bounce off support near 1.0825. Price is currently struggling near resistance of 1.10. On the intraday charts, we see that this makes for a third attempt to break the resistance at 1.10. A retest to 1.09275 is very likely, but a risk of an upside breakout could see EURUSD break away from the falling price channel which will set the stage for a test to 1.1135 region of resistance. To the downside, a break below 1.09275 will see a test to the previous lows at 1.082.

USDJPY Daily Pivots

R3 124.562
R2 124.325
R1 124.056
Pivot 123.83
S1 123.561
S2 123.324
S3 123.066



USDJPY (123.5): USDJPY has been declining after forming a bearish engulfing on July 21st. The current declines could see price fall to 123 support which marks the break out of the bull flag. On the intraday charts, there is a support near 123 through 122.65 region, which is where we expect USDJPY to resume its rally. However, resistance at 124 region needs to be cleared in order to aim for 125.65 resistance. A break below 122.65 could see a test back to the main support at 121.92 through 121.7..

GBPUSD Daily Pivots

R3 1.5591
R2 1.5586
R1 1.5532
Pivot 1.5499
S1 1.5472
S2 1.5439
S3 1.5414



GBPUSD (1.552): GBPUSD closed Friday’s session on a small bodied candlestick pattern which comes right after a strong bearish session on Thursday. The appearance of this pattern near the daily support at 1.552 is indicative of a short term reversal. However, failure to bounce off the support here could see GBPUSD decline to the lower support at 1.533. On the intraday charts, price is currently trading in the support zone and we could therefore expect to see some sideways price action. The view for GBPUSD remains bearish for a test down to 1.533 support that was formed in early July. But there is also a risk of a break out to the upside, which will see GBPUSD break the falling price channel, in which case a retest to the current support at 1.552 could see a rally towards 1.58.

John Benjamin

John Benjamin

John is a market analyst for Orbex Ltd. and is a forex and equities trader having been involved in trading since late 2009. John makes use of a mix of technical and fundamental analysis and inter-market relationships. The analysis present here is a mix of intra-day analysis while considering the long term outlook of the markets as well. For any comments or questions, John can be reached at [email protected]