GBP/JPY at the Edge! Bounce or Breakdown? The weekly chart of GBP/JPY reveals a highly volatile scenario, with a recent bearish expansion pushing the price back toward a key support zone between 185.00 and 188.30 — an area that has been defended multiple times in the past. After an attempted recovery toward the supply zone between 194.00 and 195.00, the pair encountered heavy selling pressure, failing to break out and sharply reversing.
From a technical perspective, the move suggests a possible swing failure above local highs, with the current weekly candle confirming a return below resistance. Price action is now within a critical area: if the current support holds, we could see a technical rebound with interim targets at 191.40 and potentially back toward 194.00. However, a breakdown below 185.00 would open the door to deeper correction, with possible extensions toward 182.00 and 180.00 — both zones marked by previous accumulation.
The RSI, after dipping into oversold territory, is now attempting a reaction, indicating that buyers are trying to regain control, though the structure remains fragile. Strategically, this phase demands caution: aggressive longs may seek confirmation of reversal above current lows, while bearish traders should closely watch for a confirmed breakdown below support. The 188.30 to 191.40 price range will be key to monitoring the next directional move.
Signls
Why EURGBP Bullish ?? Detailed Analysis EUR/GBP is currently trading around 0.8470, having recently completed a breakout accompanied by increased trading volume. This surge suggests strong bullish momentum, with the pair targeting a potential gain of over 300 pips, aiming for a price level of 0.8700.
Fundamental factors contribute to this bullish outlook. The euro has shown resilience amid recent economic developments in the Eurozone. Notably, Eurozone inflation decreased to 2.2% in March from 2.3% in February, driven by a significant reduction in energy costs and slowing service inflation. Core inflation, which excludes volatile food and fuel prices, also fell to 2.4% from 2.6%, which was below expectations. This easing of inflation is likely to reinforce expectations for another interest rate cut by the European Central Bank (ECB) later in April. The ECB has already reduced rates six times since last June.
Conversely, the British pound has experienced fluctuations due to recent trade developments. On April 3, 2025, the pound surged to a six-month high against the U.S. dollar amid global market concerns following the announcement of new U.S. trade tariffs. Despite facing elevated duties on exports such as cars, steel, and aluminum, optimism surrounding a potential UK-U.S. trade agreement provided a positive outlook for sterling. citeturn0news24 However, ongoing trade negotiations and potential fiscal adjustments by the UK government may introduce volatility, influencing the pound's performance against the euro.
Technical analysis supports the bullish sentiment for EUR/GBP. The pair's breakout above previous resistance levels, coupled with increased volume, indicates strong buying interest. Key resistance levels to monitor include 0.8500 and 0.8600, with a sustained move above these levels potentially paving the way toward the 0.8700 target. Traders should also observe support levels around 0.8400 to manage potential pullbacks effectively.
In summary, the EUR/GBP pair exhibits a bullish trajectory, underpinned by favorable technical patterns and evolving fundamental factors. Traders should implement robust risk management strategies, including setting appropriate stop-loss orders, to navigate potential market volatility. Staying informed about upcoming economic data releases and central bank communications will be crucial in effectively capitalizing on this trading opportunity.
CADJPY Weekly Forecast is Short 1DCADJPY Weekly Forecast is Short and Bearish
Weekly Forex Forecast for October 10 to 14 , multiple timeframe analysis. Knowing WHEN to trade is one of the most important components to forex trading, I will be breaking that down in this forex forecast on Homa Forex Channel.
❤️Please, support our work with like & comment!❤️
👇👇👇👇👇
ETH/USD - Trading OpportunitiesWhat's up traders, I hope you're all having a good trading week.
This is a follow up analysis of my previous Ethereum analysis (See related ideas for the previous analysis.) My previous analysis went perfectly to plan and if you followed it, you'd now be in strong profits.
Let's analyze ETH/USD on the 4H chart.
When analyzing this chart, Ethereum has had some nice upside. For the time being, it's best to watch for juncture levels where placing a position, this is of course unless you bought a few days ago, then I would say you should definitely hold a long Ethereum position.
As you can see from the chart, the level to watch for a trading opportunity is the side-wards resistance line at 620 level, because this is the level that will either be used as support for continued upside, or used as a resistance level for some downside before a later buying opportunity.
If Ethereum breaks the side-wards resistance line at 620 and becomes a new support, this is a good buy opportunity.
I will update this analysis when I receive above 40 likes.