Technical analysis of EURUSD
GBP/USD: 'V-Top' led to decline
The pair has been declining since the last 'V-Top' formed. The main intraday target is the next support at 1.2830 - 1.2803. If a pullback from this area happens next, there'll be an opportunity to have an upward correction in the direction of the closest resistance at 1.2899 - 1.2910.
There's a bearish 'Flag', which led to forming a new local low. Previously, we had a couple of 'V-Top' patterns. In this case, it's likely that the market is going to achieve another support at 1.2830 - 1.2803 in the coming hours. The subsequent pullback from this area could be a departure point for a bullish correction towards the 34 Moving Average.
USD/TRY formed a bullish gap on the D1. It happened on the increase in the market’s risk aversion.
USD/ZAR is capable of more downside on the ongoing trade optimism and as the market’s view switches to the Federal Reserve’s meeting later this month.
EUR/USD spiked down to the September low in the 1.0930 but failed to stay there and closed around 1.1060 on Thursday.