GBP/USD

A major loss in GBP strength has given way to a bearish market. Indications show likelihood of a retraction to be strong but not until the opening of next week’s, market on Monday. Current analysis shows that the GBP/USD could retract to 1.6383 by the end of today, but most indications point to as further down trend. Traders should look for a mixture of short trends in both directions 30 minutes to 1 hour.

GBP/USD
Support 1.6314 1.6383 1.6426
Resistance 1.6545 1.6495 1.6461

GOLD

This month so far has been a mixture of regular movement and indecision for GOLD.  Current expectations are for continued movement to occur between existing patterns. During the day’s trading volatility is expected to be high and a bullish sentiment is forecasted. Traders are advised to look for CALL options up to 1 hour until the asset reaches the Resistance of 1262.723.


GOLD
Support 1240.966 1251.366 1256.903
Resistance 1262.723 1267.075 1275.812

USD/JPY

Indecisive holding patterns have been seen throughout the week so far on the USD/JPY. A large amount of fundamental events will have a large effect on the price action, but general pattern movement is sluggish. A currently bearish sentiment points towards a further down movement to support at 101.25 before correction in trend. Traders are advised to look for PUT options ranging from 15 minutes to 30 minutes. Also, keep in mind that during patterns such as these, drastic changes in price action are highly likely to take place.


USD/JPY Chart
Support 100.83 101.25 102.08
Resistance 102.76 103.46 104.02