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Jun 18, 2025

GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

As we mentioned yesterday, if the support level of 1.3520 is broken, we may witness further declines towards 1.3480. The target has indeed been achieved, while the current trend is strongly bearish after breaking an important support level.

Technical Analysis:

  • A clear horizontal support level was broken near 1.3505, then the decline continued.
  • There is a potential divergence on the MACD indicator, which may indicate a slowdown in the bearish momentum.
  • The price rebounded from the lower boundary of the black channel (dynamic support).


Expectation:

  • We are monitoring the possibility of an upward correction to the 1.3500-1.3530 area before resuming the decline.
  • Any break of the recent low at 1.3430 could open the way for further declines towards 1.3380.

 

 

EUR/USD Chart on the hourtly time frame

EUR/USD Chart on the hourtly time frame

Current trend: Bearish correction within an ascending channel.

Technical analysis:

  • The price has rebounded from the lower border of the black channel.
  • MACD is relatively oversold with a slight bullish crossover beginning.
  • The price is currently trading in an important support area near 1.1500.

Forecast:

  • As long as the price maintains support at 1.1490 – 1.1500, there is a chance of a rebound towards 1.1550 – 1.1580.
  • A break below the channel would signal the start of a new downtrend.
USD/JPY chart on the hourly time frame

USD/JPY chart on the hourly time frame

The pair is facing strong resistance at 145.40, an area from which the price has previously rebounded, forming a potential double top pattern.

  •  Nearby support: 144.15, then 143.30.
  •  Resistance: 145.40.
  •  Technical indicators: The MACD is beginning to show a decline in positive momentum, supporting the possibility of a correction.

Expectation:

  •  If 145.40 is not breached, a correction towards 144.15 is likely. A break of this level will lead to further declines towards 143.30.

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