Forex Technical Analysis & Forecast by RoboForex

[Vlad RF]

GBPUSD on hold: caught between oil rally and high interest rates

The GBPUSD pair is standing in a narrow sideways range near 1.3464. The market needs strong news.

Technical outlook

The GBPUSD pair remains in a consolidation phase on the H4 chart after the sharp decline from May highs in the 1.3630–1.3650 area. After forming a local low near 1.3300, buyers recouped some losses, but a sustainable upward momentum has yet to emerge.

The GBPUSD pair remains without a strong catalyst, but holds below crucial levels.

Read more - GBPUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

USDJPY trapped in a vice, the Japanese government is keeping a low profile

After testing the psychological 160.00 level, the USDJPY pair failed to consolidate above it and pulled back. The rate currently stands at 159.85.

Technical outlook

On the H4 chart, the USDJPY pair formed a Harami reversal pattern near the lower Bollinger Band and is trading around 159.85. Since the price remains within an ascending channel, it could form an upward wave following the pattern signal, with the upside target remaining at 160.50.

The USDJPY pair attempted to break above the psychological 160.00 level and consolidate above it, but buyers lacked the strength to do so.

Read more - USDJPY Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team