GBP/JPY, GBP/USD, and EUR/USD Update

These are the update for GBP/JPY, Cable, and EUR/USD from my last tweet about chart setup.


The pair finally break a side after going sideway since it reach 132.00 low. I missed the first breakout of 134.02 but luckily I got another opportunity. The pair reached 2nd target (which is also the neckline) after NFP data released. I think we'll see corrective movement in hourly next week before it reach 50% fibo level (137.80). Otherwise we'll see a reversal signal and we can start selling the pair again ;)


GBP/USD
Cable still moving inside the corrective channel, support by 1.5000 level. I think we can still targeting the 50% fib level around 1.5300 next week. I have closed my position yesterday along with my GBP/JPY position. So I think I'm going to wait for a dip near the support channel before buying this pair.


EUR/USD
The euro still moving between 50% and 61.2% Fib level. I am just going to stay out of this pair until a significant break occurs.

Chart Setup GBPJPY, EURUSD, and GBPUSD

Above are chart setup for GBP/JPY, GBPUSD, and EURUSD.
GBP/JPY downtrend may continue this week after 2-week retracement from 138.26 and went as high as 143.63 last week. I currently shorting this pair as long it stays below the falling trendline.

GBP/USD broke 1.5707 support area on weekly chart. 100% projection is near 78.6% retracement or the green horizontal line (see chart).

EUR/USD reached 61.8% retracement which is the target from the previous post. The pair may have completed the third wave from 1.5144 top at this level. However the outlook is still bearish in daily chart as long the channel remain intact. First resistance is the last week high around 1.3780.