USD/JPY: upside is limited
On the H1, USD/JPY is recovering after the selloff that took place during the previous three days.
GBP/USD is still weak
Information is not investment advice
GBP/USD recovered last week from the 1.2440 area but met resistance around 1.2570 (resistance line from the end of June). The two attempts to overcome this level failed and the pair returned just above 1.25 where it started consolidating. As long as the pound stays above this support, it will retain a chance to continue consolidation and test the further resistance around 1.26 in line with last week’s candlestick that showed the pound wanted to find a base. However, the loss of 1.25 will mean a “double top” and open the way down to 1.2440 once again.
Note that the pound is under the negative pressure as traders worry about the prospect of eurosceptic Boris Johnson winning the Conservative party leadership contest.
Elizabeth Belugina
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USD/JPY: upside is limited
On the H1, USD/JPY is recovering after the selloff that took place during the previous three days.
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USD/CAD made big moves during the Bank of Canada’s meeting yesterday. Still, the rally may not be over yet.
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