The British pound rallied in an upside trend

EURO

Last Friday, the 13 nation currency drove through the upside direction, ending the day with significant signs for an upside wave after the long bearish wave; due to this move the technical oscillators got affected showing the reversal pattern for the week ahead till the key levels around 1.4520s.

The trading range for today might be between the key resistance level at 1.4470 and the key support level at 1.4270.

The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930.

GBP

Last Friday, the British pound rallied in an upside trend to hit the major resistance level at 1.9900, but it couldn't progress due to the uncertainties causing a currency sell, which in role put the pound down again around the opening area levels, this move could be a sign for a reversal pattern in the next step upon the technical directional studies indicates.

The trading range for today might be between the key resistance level at 2.0000 and the key support level at 1.9700.

The general trend is up as far as 1.9540 remains intact targets now at 2.0940 and 2.1050.

JPY

Last week, the US dollar against the Japanese Yen rallied in the upside direction since it gathered enough momentum to break through the major resistance level at 113.50, reaching to the next key resistance around 114.20s; in the meantime the pair just touched the major descending line; hence, today the pair might drop down to the downside direction finishing the upside projection movements.

The trading range for today will be between the key resistance at 114.80 and the key support at 112.70.

The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.

CHF

The dollar against the SWISS Frank last time showed some key reversal signs after it couldn't pass the major resistance level at 1.1600, meanwhile the technical parameters reached to an over bought area which in role may lead the pair down forming another bearish wave.

The trading range for today will be between the key resistances at 1.1630 the key support at 1.1400.

The general trend is down as far as 1.2020 remains intact, targets at 1.1445 and 1.1230.

CAD

The dollar against the Canadian last week set the downside path after forming the top around the major resistance area at 1.0200; today, the pair is expected to move down in a progressive pattern until the key support level at 0.9800.

The trading range for today will be between the key resistance at 1.0020 and the key support at 0.9800.

The general trend is down as far as 1.0450 remains intact, targets will be 0.9000at and 0.8880.