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Jun 11, 2025

GBP/USD chart on the hourly time frame

The GBP/USD chart on the hourly time frame

Previous Session:

  • The price was trading above the horizontal support at 1.3497, while forming lower highs, indicating weakening bullish momentum. - The MACD showed the beginning of a negative shift, though no confirmed breakdown occurred yet, which warranted a cautious stance yesterday.


Current Technical Outlook:

  • The support level at 1.3497 has been clearly broken during today's session. - The MACD continued to decline and issued a confirmed sell signal.- The overall trend has turned bearish, with potential for the price to test the lower boundary of the ascending channel extending from the May low.
  • Conclusion: The bearish breakdown anticipated yesterday has now been confirmed, reinforcing the short-term negative outlook.

Forecast:

  • Continued decline likely toward:

 ◦ 1.3450 as the first target.
 ◦ 1.3415 as the second target (lower channel boundary).

  • Any bullish pullback is expected to face strong resistance around 1.3495–1.3505.
EUR/USD Chart on the hourtly time frame

EUR/USD chart on the hourly time frame

As mentioned yesterday:

  • The pair broke below the ascending trendline and failed to recover above it, continuing to face selling pressure near 1.1370.

Current Situation:

  • The price is now trading around 1.1417.
  • It remains below the previous trendline, confirming weak bullish momentum.
  • The MACD is still negative, though the bearish momentum is slowing.

Forecast:

  • Staying below 1.1440 keeps the downside scenario intact.
  • A break below 1.1370 would likely open the way toward:

 ◦ 1.1310, followed by
 ◦ 1.1280.

  • If the price closes firmly above 1.1445, a limited upward correction may begin.
USD/JPY chart on the hourly time frame

USD/JPY chart on the hourly time frame

Compared to the Previous Session:

  • Yesterday, the pair rebounded from 144.00, approaching the upper boundary of the rising channel. - Price retested 145.00, but with limited bullish momentum. - MACD remained positive but showed weakening momentum.


Current Technical Outlook:

  • In today’s session, the price fell back from 145.00, currently trading around 144.55. - Lower highs are visible on the chart, suggesting a potential start of a corrective move. - MACD has started to turn negative, with a possible bearish crossover forming soon.
  •  

Conclusion: Weakening bullish momentum and failure to break above 145.00 suggest the start of a correction, especially if 144.00 is breached.
Forecast:

  • If 144.00 is broken, likely downside targets are:

 ◦ 143.60, ◦ 143.30.

  • If price returns above 145.00 with strong momentum, upside targets would be:

 ◦ 145.20, then ◦ 145.80.
 

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