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Major Pairs Analysis On May 7th, 2015: Careful If GBPUSD Breaks 1.51890



May 6, 2015  
GBP/USD is in bullish condition. The strengthening of sterling may continue if the resistance at 1.52424 breaks, with target at 1.52902.

USD/JPY

USD/JPY is in bearish condition. Bearish pressure is expected to be heavier if the support at 119.19 breaks, with target at 118.84.

As alternative scenario, watch the resistance area at 119.69. If pull-back occurs to that area, you can look for sell signal confirmation with target at 119.19.

Be careful if the resistance at 119.69 breaks, because it will turn intraday bias into bullish and potentially will bring price up to 119.99.



 

USD/CHF

USD/CHF is on bearish pressure into the support area. Watch that area in order to look for sell signal confirmation with target at 0.91122.

Be careful if the resistance at 0.91829 breaks, because it will turn intraday bias imto bullish and potentially will raise price up to 0.92620.



 

EUR/USD

EUR/USD iss in bearish pressure and testing the resistance area at 1.13692. If the resistance breaks, euro may continue to strengthen to 1.14519.

Be careful if the support at 1.12975 breaks, because it will turn intraday bias into bearish and potentially will bring euro down to 1.12172.



 

GBP/USD

GBP/USD is in bullish condition. The strengthening of sterling may continue if the resistance at 1.52424 breaks, with target at 1.52902.

As alternative scenario, watch also the support area at 1.51890. If pull-back occurs to that area, you might want to look for buy signal confirmation with target at 1.52424.

Be careful if the support at 1.51890 breaks, because it will turn intraday bias into bearish and potentially will bring sterling down to 1.51356.



 

AUD/USD

AUD/USD is in bullish condition. The rebound of Aussie may continue, watch also the support area at 0.79365. If correction occurs to that area, you might want to look for buy signal confirmation with target at 0.80293.

Be careful if the support at 0.79365 breaks, because it will turn intraday bias into bearish and potentially will push Aussie down to 0.78791.