NEW YORK ( TheStreet) -- The GBP-USD was moving lower Monday after its past week losses as it pushed its key support at the 1.5057/00 levels to test a low of 1.4782. Though currently backing off that low, it remains vulnerable to the downside towards 1.4856/33 and then the 1.4511 level. Resistance is seen at the 1.5057/00 levels.

The EUR-USD has wiped out its Friday recovery strength, selling off strongly to test a low of 1.3459 in today's trading session. If a further build on the mentioned weakness occurs, we could see an eventual break below the 1.3442 level, triggering the resumption of its medium-term downtrend towards the 1.3211 level and next the 1.5000 level.

The USD-JPY may be strengthening but still retains its bearish move off the 92.13 level as it continues to eye big support levels at 88.54 and 88.30. Below those levels will expose the 87.35 level. Resistance is seen at the 89.69 level.

The USD-CAD retains its offered tone started on Friday as it followed through sharply lower today, increasing the risk of further declines towards the 1.0368 level and then the 1.0219/04 level. Resistance resides at the 1.0571 level.

The AUD-USD continues to hold above the 0.8924 level as it was seen forcing a marginal gain at the time of today's analysis. Threats remain higher towards the 0.9070 level.

The EUR-JPY has taken back its Friday gains as it continues to target lower level prices towards the 119.63 level. Below there will leave risk towards the 119.06 level and then the 115.63. In case of any recovery, the 121.37 level will be targeted.

Although the EUR-GBP traded higher today testing a high of 0.9148, it has reversed almost about 75% of those gains suggesting a shooting star candle pattern could be forming. It has to close above that level (0.9148) to trigger further upside gains.
Mohammed Isah is a technical strategist and head of research at, a technical-research Web site. He has been trading and analyzing the foreign exchange market for the past seven years. He formerly traded stocks before crossing over to the forex market, where he worked for FXInstructor LLC as a technical analyst and head of research before joining He has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, The International Business Times and At, he writes daily, weekly and long-term technical commentaries on currencies and commodities, which are offered to its clients. He also produces The Professional Suite for his subscribers. He provides full coverage of the forex market with specific focus on G10 currencies as well as the commodities markets, with focus on five key commodities.