We hold a view of the instrument moving in the range of (1.3252 – 1.3027). We have to wait and watch the movement of the instrument from current levels.
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Currently, further bullish actions could be seen on GBPUSD.
A break below (1.5486) could be a threat to the bullish scenario targeting (1.5418) even (1.5395).
On upside. Immediate resistance is at (1.5568). A close above that area should keep the major bullish scenario intact testing (1.5633) area.
The bias remains neutral in nearest term. A need for a clear break from the range area (98.22 – 96.90) so we can see clearer direction. Break below (96.90) could trigger further bearish pressure targeting (97.00) and keep the major bearish scenario remains strong while break above (98.22) could trigger further bullish correction testing (99.49).
The USDCHF bias is neutral. Upper barrier is at (0.9440), break above that area could trigger further short term upside pressure testing (0.9421). On the downside, the important price level at (0.9236) may be tested or broken in the coming sessions, which may pull the pair towards (0.9246 – 0.9193).
Weakness in USDCAD is likely to continue.
We see a less chances of an immediate rise on the instrument for short-term technical outlook. Next downside barriers follow (1.0090) at (1.0070) and (1.0050).
We see better value in short positions.
If the price will go below the first support at (1.0222), this would confirm continuation of the bearish trend, towards next objective downwards (1.0191) then (1.0160) and (1.0129) will follow.