GBP-USD: Remains Under Pressure

Technical Summary: GBPUSD Sails Through The 1.6514 Level By Mohammed Isah of fxtechstrategy.com

GBP-USD: On Friday the pair continued its recent declines from the 1.6875 level and decisively violated its short-term trend line and took out the 1.6514 level. This keeps the pair under pressure with risk seen toward 1.6260.

EUR-USD maintained a similar tone on Friday, building on its Thursday gains and testing a low of 1.4799. A break of its minor support at 1.4806 is required to target its long-term rising trend line at 1.4744.

AUD-USD initially declined below its long-term trend line at 0.9091 before backing off to close back above it on Friday. However, risk remains to the downside in the near term, with eyes on the long-term trend line.

USD-JPY continues to target the 88.82/63 levels as it maintains its downside tone. Below those levels it will target the 88.00 level.

USD-CAD extended its gains on Friday, breaking above its minor support at 1.0462 to close higher at 1.0694. The bias remains higher, with a corrective move upward possible toward the 1.0777 level.

EUR-JPY has achieved a marginal close below its symmetrical triangle. If it builds on that, the pair should see further downside toward the 130.97 level.

EUR-GBP rallied further on Friday, building on its corrective recovery and breaking above the 0.8877 level. Further recovery is expected toward the 0.9064 level.