GBPUSD quite before breaking towards 1.6150 level

GBPUSD seems to be taking a breather during last few days and being traded in a sideways trend. Now it seems that it is setting up for a move towards 1.6150 level which might well extend towards 1.6250 level.

On the lower side traders will aim to buy around 1.6075 level and, dip below that will test 1.6035 support level next. In general the Long term trend comfortable seems bullish and mostly traders will be focusing on buying GBPUSD on retracement dips.

USDJPY in gradually downward trend

USDJPY is moving in a nice gradual downward trend and currently providing the intra-day traders good opportunity to trade with small targets. Currently another such entry can be seen around 81.85 level for target 81.15 level. A short stop is also suggested with this entry.

On the upper side, if the move is extended towards 82.50, then long term traders might get some opportunities to sell around this level for long term trade.

EURUSD looking to target 1.4000

EURUSD is moving in a nice upward trend and it seems to continue its current momentum towards 1.4000 level. Currently traders will be looking to buy EURUSD on dip to retracement levels. Once such good level can be seen around 1.3730 and dip towards that level will provide traders with good buying opportunity for initial targets around 1.3850 level which can be further extended above 1.4000 level.

RSI is around 68 and thus seems to have more than enough space for EURUSD to continue its momentum above 1.4000 level.

GBPUSD looking to target above 1.6100 level

GBPUSD is moving in a nice upward trend but it seems that it is due for a dip and we might see GBPUSD taking a dip below 1.6000 level towards 1.5950 level and traders will look to buy GBPUSD around this level for GBPUSD to resume back to 1.6100 targeted level.

On the lower side, the dip can extend towards 1.5840 level and if GBPUSD manages to break 1.5800 level, then traders will look to aim for reversal entries. RSI is around 62 in daily charts and thus seems to have more than enough space to make a move above 1.6100 level.

EURUSD setting up for dip towards 1.3100

EURUSD seems to set itself up for a nice downward move but before doing so, it is taking some gradual retrace and currently a good solid selling level can be seen just around 1.3260 level. From that 1.3260 level EURUSD will look break below 1.3100 level and most traders will target something around that level.

On the upper side, break above 1.3260 level will take EURUSD towards 1.3340 and once EURUSD manages to break that level, the reversal entry indication is there. RSI is not on much lower side so it don’t seems to play much part in the movement.