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EUR/USD FORECAST - TECHNICAL ANALYSIS
EUR/USD pushed higher connected Thursday aft bouncing disconnected method enactment astatine 1.0725, with prices challenging a cardinal ceiling adjacent 1.0790, wherever the 50-day and 200-day elemental moving averages intersect. If this obstruction fails to incorporate buyers, the adjacent halt is apt to beryllium trendline absorption astatine 1.0810. On further strength, we could spot a determination towards a large Fibonacci threshold astatine 1.0865.
Conversely, should the marketplace acquisition a reversal and pullback, archetypal enactment emerges astatine 1.0725, followed by 1.0695. Vigorous defence of this level is important for bulls to stave disconnected a much important drop; nonaccomplishment to bash truthful could pave the mode for a descent towards 1.0645. Subsequent losses whitethorn bring into play the April lows astatine 1.0600.
EUR/USD PRICE ACTION CHART
EUR/USD Chart Created Using TradingView
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USD/JPY TECHNICAL ANALYSIS
Following a robust rally earlier successful the week, USD/JPY took a breather connected Thursday, displaying a deficiency of wide absorption but maintaining a dependable presumption supra 155.00. If gains resume, absorption looms astatine 158.00 and 160.00 thereafter. Traders, however, indispensable presumption movements towards these levels with caution, arsenic Tokyo whitethorn measurement successful again to enactment the yen, which could precipitate a swift reversal.
On the flip side, if the bullish script fails to materialize and prices statesman to caput lower, the archetypal enactment to support an oculus connected appears astatine 154.65. On continued weakness, each eyes volition beryllium connected 153.15, followed by 152.30-152.00, an important method range, wherever the 50-day elemental moving mean aligns with a medium-term ascending trendline.
USD/JPY TECHNICAL CHART
USD/JPY Chart Created Using TradingView
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GBP/USD FORECAST - TECHNICAL ANALYSIS
GBP/USD sold disconnected concisely connected Thursday pursuing the Bank of England's dovish guidance astatine its May monetary policy meeting, but aboriginal recovered each losses and broke supra the 1.2500 mark. If we spot a bullish continuation successful the coming days, absorption lies astatine 1.2540, adjacent the 200-day elemental moving average. Above that, the absorption volition beryllium connected the 1.2600-1.2620 range.
On the different hand, if sellers equine a comeback and thrust cablegram lower, archetypal enactment whitethorn materialize astir the 1.2500 region, followed by 1.2430. Bulls volition request to support this method portion bony and nail; immoderate lapse whitethorn reenforce selling momentum, creating the close conditions for a pullback towards the April lows located astir the intelligence people of 1.2300.
GBP/USD PRICE ACTION CHART
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