Technical Analysis Based on Breakout – Remain long towards 1.3607

GBPUSD – Flat Technical Observation: As I suggest earlier this month following the bullish pin bar, Gbp has been rising tremendously to the upper side but is yet to reach my take profit set at 1.3607. I expect further rise towards my take profit or even a breakout above. If you didn’t go long after the bullish pin supported at 1.3071, wait for minor retracements to the lower side then Buy Gbp with your take profit fixed at 1.3607, and the next take profit at 1.4720. Alternatively, you could wait for a breakout above 1.3607, then Buy Gbp towards 1.4720 Technical Levels Resistance levels R1: 1.3441 R2: 1.361 R3: 1.3985 Pivot 1.3488 Support Levels S1: 1.2483 S2: 1.2858 S3: 1.3065 Trade Signal Remain long towards 1.3607
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Technical Analysis Based on Breakout – Flat

EURUSD – Up Technical Observation: Still nothing significant has changed on Eur. Since yesterday, there was only a slight rally to the upper side but still below the monthly resistance zone 1.1986-1.1906. Unless there’s a clear bullish breakout above this zone with a big green candle, I remain reluctant to long Eur, instead, I’m waiting for a bounce from this zone to short Eur towards 1.0550. A breakout above this resistance zone will mean waiting for retracement to the just broken zone to buy Eur towards 1.3910. Technical Levels Resistance levels R1: 1.1986 R2: 1.2001 R3: 1.2307 Pivot 1.1950 Support Levels S1: 1.1083 S2: 1.1389 S3: 1.151 Trade Signal Flat
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Technical Analysis Based on Breakout – Flat

USDJPY – Down Technical Observation: Recently, Usd retraced a bit higher than I expected. Unless there’s a clear sell signal on Usd, I choose to remain flat on Usd. My expectations are that the price should continue to retrace higher towards 112.55 where there’s a potential supply. A breakout higher will push the price upwards towards 114.33 which a major daily resistance line. As it on the daily chart, I choose to remain flat, and only short Usd around 112.55 or at 114.33. The best place to pick a short is at the daily sell line 114.33. Technical Levels Resistance levels R1: 111.92 R1: 112.63 R3: 113.73 Pivot 111.80 Support Levels S1: 109.34 S2: 110.43 S3: 110.82 Trade Signal Flat
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Technical Analysis Based on Breakout – Still very bullish

GBPUSD – Flat Technical Observation: On the weekly chart above, a bullish pin bar is in a formation. As I said earlier, gbp is in the rise and should continue to gain value with an ultimate take profit at 1.3607. As it is on the higher time frames, Gbp is bullish and only a buy position can be advised. Should the price breaks above the upper resistance trend line, then a rise towards 1.3607 is highly anticipated. I choose to remain long unless the price breaks below 1.3313 with a big red candle, as it is, only a buy position looks ideal. Technical Levels Resistance levels R1: 1.3441 R2: 1.361 R3: 1.3985 Pivot 1.3234 Support Levels S1: 1.2483 S2: 1.2858 S3: 1.3065 Trade Signal Remain long towards 1.3607
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Technical Analysis Based on Breakout – Prepare for a long term sale

EURUSD – Up Technical Observation: Eur is slowly pulling back below 1.1986. From the monthly chart above, looks like Eur will definitely close below the monthly resistance line 1.1986. If this should be the case, then I expect a long term decline in price with a take profit fixed at 1.0486. As it is, I can only advice a sell position with a stop loss above 1.2122 and take profit at 1.0486. On the way downwards, the key lines to look for include 1.1560, 1.1220 and 1.088, if these lines are broken, then a massive decline in price towards 1.0486 is expected. Technical Levels Resistance levels R1: 1.1816 R2: 1.2001 R3: 1.2307 Pivot 1.1696 Support Levels S1: 1.1083 S2: 1.1389 S3: 1.151 Trade Signal Sell Eur with your stop loss above 1.2122 and take profit at 1.0486
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Technical Analysis Based on Breakout – Short Usd Now towards 110.30.

USDJPY – Down Technical Observation: For a second time now, Usd has pulled back to my sell zone 111.77-111.64. If you’re an intraday trader, then this is the best time to pick a short position towards 110.30, you stop loss should be slightly above the previous day’s highest high 111.65. As it is on the daily chart above, only a short position can be advised. A buy position can be recommended in case the price breaks above 111.77, and even then, a clear confirmation is needed to confirm further rise towards 114.30. Technical Levels Resistance levels R1: 111.92 R1: 112.63 R3: 113.73 Pivot 111.60 Support Levels S1: 109.34 S2: 110.43 S3: 110.82 Trade Signal Short Usd Now towards 110.30.
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Technical Analysis Based on Breakout – Place a pending sell limit order around 111.64 

USDJPY – Down Technical Observation: According to the daily chart above, Usd is still very bearish, and while the price is still below the support line 111.64, I expect further decline towards 108.16 or even lower. As it is, I’m waiting for a second pullback towards 111.64 to pick for a short position with my take profit fixed at 108.16. My advice, place a pending sell limit order around 111.64 with your stop loss slightly above the previous day’s highest high, 111.77 and a take profit at 108.16. If you went short earlier, then remain short towards 108.13 Technical Levels Resistance levels R1: 111.92 R1: 112.63 R3: 113.73 Pivot 111.54 Support Levels S1: 109.34 S2: 110.43 S3: 110.82 Trade Signal Place a pending sell limit order around 111.64 
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Technical Analysis Based on Breakout – Flat,

EURUSD – Up Technical Observation: Eur is still struggling along a monthly resistance zone 1.1993-1.1901. This is a key support zone in 2003, 2005, and 2010. Now that the price has broken below this zone, this zone should act as a key resistance as I said earlier. Unless there’s a clear breakout above it with a big green candle, I expect a bounce from this zone to short Eur towards 1.0510. This position is very good for long term traders, with a fixed take profit at 1.0510. If the price should breakout above 1.1993, then further rise towards 1.3825 is expected. Technical Levels Resistance levels R1: 1.1816 R2: 1.2001 R3: 1.2307 Pivot 1.1695 Support Levels S1: 1.1083 S2: 1.1389 S3: 1.151 Trade Signal Flat, but waiting for a sell signal.
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Technical Analysis Based on Breakout – place a pending buy limit order around 1.3313

GBPUSD – Flat Technical Observation: After a tremendous rise in price almost a fortnight ago, earlier this week, Gbp opened slightly lower than expected but still above a short term support line 1.3313. This is a potential buy line and unless there’s a clear breakout below it with a big red candle, I expect a bounce from this line to buy Gbp with my take profit fixed at 1.3607. A breakout below 1.3313, will push the price lower towards the weekly support where there’s a definite buy trade for long term traders. My advice, place a pending buy limit order around 1.3313 with your take profit at 1.3607 Technical Levels Resistance levels R1: 1.3441 R2: 1.361 R3: 1.3985 Pivot 1.3235 Support Levels S1: 1.2483 S2: 1.2858 S3: 1.3065 Trade Signal Rebuy Gbp around 1.3313 with your take profit at 1.3607
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