GBP/USD

The Cable continues to range between 1.4350 and 1.4700 for the better part of 7 weeks as markets remain poised for the BREXIT vote with fundamental leading to whipsaw as new news is digested. Currently the pair is in the lower half of the range, having broken below 1.4500 and now resting at 1.4450 where it will remain until either side makes a move. Upside targets are at 1.4500, 1.4550 and 1.4600. Downside targets are at 1.4400, 1.4350 and 1.4300.



 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4351 1.4399 1.4431 1.4479 1.4511 1.4459 1.4591
WEEKLY 1.4022 1.4203 1.4362 1.4543 1.4702 1.4883 1.5042
MONTHLY 1.3842 1.4086 1.4282 1.4526 1.4722 1.4966 1.5162
 

USDJPY

The USDJPY has tapered off from its heavy selling pressure and is consolidating between the 106.50 and 107.50 levels as markets re-balance. Should bulls break above the trend line, capturing 107.00, we would see further upside with targets at 107.50, 108.00 and 108.50. However, should bears break below 106.50, we would see a continuation to 105.00 with interim targets at 106.00 and 105.5.



 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 105.59 105.92 106.52 106.85 107.45 107.78 108.38
WEEKLY 99.90 103.19 104.86 108.15 190.82 113.11 114.78
MONTHLY 101.06 103.29 107.00 109.23 112.94 115.17 118.88
 

AUDUSD

Bears continue to control the short term movement with the pair nearing 0.7400. as it stands the bulls will look to break above the downward sloping trend line and capturing 0.7425 and beginning an assault on previous highs in an attempt to take back control with targets at 0.7450, 0.7475 and 0.7500. Bears will be looking to continue to the south with 0.7400 their next obstacle to overcome before making a move for 0.7375, 0.7350 and 0.7325.




TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7290 0.7351 0.7382 0.7443 0.7474 0.7535 0.7566
WEEKLY 0.6991 0.7068 0.7218 0.7295 0.7445 0.7522 0.7672
MONTHLY 0.7130 0.7346 0.7517 0.7733 0.7904 0.8120 0.8291
 

GOLD

Gold managed to peek above 1271 before bulls took profits, driving prices back to 1265 as the market takes a breather before deciding its next course of action. There is ever-growing divergence between the stochastic oscillator, which is making new low highs, and price which is making new higher highs, suggesting that the market is reaching exhaustion and may be due for a larger drop. Upside targets are at 1270, 1275 and 1280 while the downside targets are at 1260, 1255 and 1250.


TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1245.76 1251.93 1259.96 1266.16 1274.16 1280.33 1288.36
WEEKLY 1165.74 1182.37 1211.24 1227.87 1256.74 1273.37 1302.24
MONTHLY 1069.00 1134.00 1174.40 1239.40 1279.80 1344.80 1385.20