EURUSD Daily Pivots
| R3 | 1.2269 |
| R2 | 1.2247 |
| R1 | 1.2211 |
| Pivot | 1.2189 |
| S1 | 1.2153 |
| S2 | 1.2132 |
| S3 | 1.2096 |
EURUSD continues to drift lower towards 1.2188 but a retest to the broken support level at 1.2271 is still on the cards. Current price action shows price trading close to below the falling resistance trend line. A break of this trend line could see a possible rally back to the broken support with the potential to test higher towards the second trend line higher.
USDJPY Daily Pivots
| R3 | 120.939 |
| R2 | 120.701 |
| R1 | 120.552 |
| Pivot | 120.314 |
| S1 | 120.165 |
| S2 | 119.927 |
| S3 | 119.778 |
USDJPY formed a strong bearish candlestick on the H1 charts, which could potentially aim towards an intraday decline towards the daily pivot level at 120.314 with a major support formed at 120.05 level, a likely test down to this level. If support is established on this retest, USDJPY could look for gains in the medium term, while a break below this level will see USDJPY look to dip lower to 119.66 level.
GBPUSD Daily Pivots
| R3 | 1.5599 |
| R2 | 1.5584 |
| R1 | 1.5567 |
| Pivot | 1.5553 |
| S1 | 1.5537 |
| S2 | 1.5521 |
| S3 | 1.5506 |
The sharp retracement rally in GBPUSD is currently forming a bearish flag pattern but the potential to retest the broken support of the range at 1.561 could invalidate the bearish flag pattern. However the risks to the downside remain in GBPUSD targeting previous lows to 1.5486.
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