EUR/USD, USD/JPY, GBP/USD Pivot Points, TA – July 30


EURUSD Daily Pivots

R3 1.117
R2 1.1127
R1 1.1054
Pivot 1.1010
S1 1.0937
S2 1.0893
S3 1.082



EURUSD (1.097): EURUSD posted a second straight day of losses as the currency failed to hold on to the gains near 1.1086. EURUSD was down trading back near the 1.097 region which marks a strong level of support. If the declines are capped here, EURUSD could see another attempt to rally but will need to clear the 1.10 level of support/resistance before attempting to test the next resistance zone at 1.117 through 1.1135. To the downside, a break below 1.09275 will see EURUSD easily fall lower to test the previous lows at 1.08206.

USDJPY Daily Pivots

R3 124.882
R2 124.445
R1 124.192
Pivot 123.765
S1 123.504
S2 123.077
S3 122.826


USDJPY (124.1): USDJPY is posting a breakout candle after forming an inside bar three days ago. However for this to be successful, USDJPY will need to break above the previous highs at 124.285 in order to target the upper resistance at 125.432. Alternatively, failure to break higher could see USDJPY fail at 124 and could see the currency fall back to test the previous support at 122.65.

GBPUSD Daily Pivots

R3 1.5767
R2 1.5727
R1 1.5664
Pivot 1.5625
S1 1.5562
S2 1.5524
S3 1.5461


GBPUSD (1.559): GBPUSD printed a bearish pinbar candlestick pattern on the daily chart after briefly testing the highs of 1.569, marking a fourth attempt to break this level but failing to do so. Price action needs to head back into the falling price channel or a bounce off the trend line could see GBPUSD possibly break above 1.569 region. To the downside, the declines are likely to be limited near the support zone of 1.551 through 1.5455.

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About Author

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]

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