GBPUSD

GBPUSD has broken structure to the downside as traders are anticipating the USD to strengthen further. Since the market has completed the daily bearish continuation pattern, structurally traders are expecting the bearish leg to continue and create a daily lower low or test the daily low. Any continuation structure / setup will confirm further downside momentum.

USDCHF

An ascending channel is developing on USDCHF. Traders are still bullish and a break of structure to the upside confirmed further upside momentum. A bull flag will confirm further upside movements however the market is closer to the top of the channel which gives traders a possible scenario of a reversal to the downside.

USDJPY

USDJPY has rallied to the upside after completing a 3-wave structure to the downside. The overall formation developing in the market is sideways and traders are anticipating a push back to the top of the range. Traders are keeping an eye on the 61.8 fib level as well as the demand zone to confirm further bullish movements