• Vasily Trader

MarketBreakdown | GBPUSD, USDJPY, AUDUSD, S&P500

1️⃣ GBPUSD - 18H time frame

GBPUSD is currently one of the most boring major forex pairs.

The price remains stuck within a horizontal trading range trading in a global bullish trend .

Recently the support of the range has been reached, now it looks like buyers will try to retest it again.

For intraday scalping consider the boundaries of the range:

Resistance: 1.42 - 1425

Support: 1.408 - 1.41

For swing trading, wait for its bullish breakout.

2️⃣ USDJPY - Daily time frame

The market remains bullish .

The price is trading within a rising wedge pattern.

The pair is quite close to its support.

I will look for trend-following buying opportunities from there.

Being short-biased, look for a wedge breakout.

3️⃣ AUDUSD - 12H time frame

The pair is trading within a wide falling parallel channel .

Now the price is testing its resistance.

For now, bias remains bearish and the price is forming a head and shoulders pattern on an hourly time frame confirming that.

Closest strong support - 0.765

For buying opportunities let the price break and close above the channel's resistance first.

4️⃣ S&P500 - Daily time frame

The price is close to all times market high.

With a sequence of higher lows, we see a clear sign of a bullish accumulation.

I will be not surprised if the price will break that to the upside.

Pumping continues.