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Daily Technical Report 11-7-2024

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EURUSD

EURUSD

The EUR/USD pair rebounded from the support area at 1.0800, reaching near the resistance area at 1.0850. If this resistance is broken to the upside, it is likely to target the 1.0890 area. This scenario would be invalidated if the support level at 1.0800 is broken to the downside.

Support

1.0820 1.0800 1.0735
Resistance 1.0850 1.0890

GBPUSD

GBPUSD

The GBP/USD pair broke above the 1.2800 level in previous trading sessions and is nearing the resistance area at 1.2890. It is likely that selling pressure will emerge in this area, limiting the upward momentum.

Support

1.2800 1.2785 1.2750
Resistance 1.2865 1.2890

1.2950

USDJPY

USDJPY

The USD/JPY pair is moving in an upward trend in the medium term, and it is likely to continue rising. However, if the price breaks the support level at 161.30 to the downside, we might target 160.50.

Support

161.30 160.50 159.75
Resistance 161.95 162.50

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