GBP/USD Comments:
• Anna Coulling: May run into resistance at 1.5957 & could top out here before turning lower.
• ecPulse.com: 1.6300 should not be breached to keep 1 month trend valid
• Valeria Bednarik: Technical break of the daily triangle past Wednesday, favors a continuation rally towards The 1.65 price zone over the upcoming weeks; improvement in market sentiment also supports the bias, as lonf as above 1.5730 price zone.
• Ilian Yotov: The Bank of England Q3 rate hike expectations have helped, at least for the time being, change the GBP short-term direction. Will it last?
• Yohay Elam: Austerity measures are hitting the pound and they will continue to do so
• Mohammed Isah: With its present strong bullish recovery off the 1.5344 level being maintained, we see upside risk the coming week though with caution as it approaches the 1.5906 level. Within three months, we have a bullish to consolidation bias on the pair.
EUR/USD Comments:
• Anna Coulling: Broken above all 4 ma's but may run into resistance at USD1.3420
• Valeria Bednarik: The common currency found temporal support on better than expected bond auctions and easing peripheral countries woes. Situation could extend over th next month once above 1.35.
• ecPulse.com: The pair should stabilize above 1.3215 to confirm 1 week trend.
• Ilian Yotov: The EUR transition into the $1.20's would be dependent on worsening of the EU debt crisis.
• Yohay Elam: The big load of debt on European shoulders will probably take its toll, despite the temporary relief
• Mohammed Isah: Our outlook in the coming is biased to the upside towards the 1.3494 while EUR maintains its present corrective tone.Our overall outlook remains bullish in three months as we look for it to return to the 1.4281
USD/JPY Comments:
• Anna Coulling: 9 day now crossed 14 for bull cross signal & offering support to current minor retracement
• Valeria Bednarik: Japanese yen continues lacking direction, yet ahead of the fiscal year close in Japan, expect the currency to remain strong against major rivals. Dollar weakness will made this cross more clearly bearish
• Ilian Yotov: Improvement in investor sentiment and risk appetite, coupled with stronger U.S. economic data and higher Treasury yields could continue to support the USD on its march to post-intervention highs aroung 86 yen.
• Yohay Elam: The improvement in the US economy boosts the pair. Note the correlation with bonds
• Mohammed Isah: The pair is struggling to continue its recovery started from the 80.90 level as it looks to possibly recapture the 84.50. Risk remains higher nearer term but we still retain our long term bearish call in three months.
Keys:
• Bearish: Belief that a particular currency is about to fall in value; understood as a general pessimistic trend about the state of that given currency.
• Bullish: Belief that a particular currency is about to rise in value; understood as a general optimism about the state of that given currency.
• Sideways: A sideways trend manifests when the volume of a currency pair bought and the volume of the same pair sold at a particular price are in balance or nearly in balance.