FOREX: GBP forms short term bottom closing above $1.3315: Major Support and Resistance 09.07.2018

09.07.2018 / 12:22

Rating:

EUR/USD -- Bullish bias as it continues to set higher lows and enters the cloud
* 3rd resistance: 1.1851, June 14 high
* 2nd resistance: 1.1782, pivot r2
* 1st resistance: 1.1776, 55-DMA
* Spot: 1.1768
* 1st support: 1.1720, June 26 high
* 2nd support: 1.1680, conversion line
* 3rd support: 1.1660, 21-DMA

GBP/USD --21-DMA resistance gives in on a closing basis as bullish bias takes over;
* 3rd resistance: 1.3405, 55-DMA
* 2nd resistance: 1.3362, 78.6% Fibonacci retracement of losses
since June 14
* 1st resistance: 1.3315 (on a closing basis), June 22 high
* Spot: 1.3312
* 1st support: 1.3240, 21-DMA
* 2nd support: 1.3204, July 5-6 lows
* 3rd support: 1.3190, conversion line

USD/JPY -- Bullish bias persists as long as 55-DMA support holds
* 3rd resistance: 111.40, May 21 high
* 2nd resistance: 111.14, July 3 high
* 1st resistance: 110.79, July 6 high
* Spot: 110.47
* 1st support: 110.17, base line
* 2nd support: 109.92, 55-DMA
* 3rd support: 109.37, June 25-26 lows

AUD/USD --Resistance ~0.7450 could finally fail to cap
* 3rd resistance: 0.7530, June 13 low
* 2nd resistance: 0.7503, 55-DMA
* 1st resistance: 0.7494, midpoint of losses since June 6
* Spot: 0.7465
* 1st support: 0.7427, 21-DMA
* 2nd support: 0.7362, July 5 low
* 3rd support: 0.7311, July 2 low

Trader Velizar Mitov

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FOREX: GBP forms short term bottom closing above $1.3315: Major Support and Resistance 09.07.2018

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