GBPJPY Weakens on Soft UK CPI: Sell Below 217.80 Targeting 216.40 
FxWirePro- USD/CHF Holds Above 0.8120 as Bulls Target 0.8200 
FxWirePro- Major Pair levels and bias summary 
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Major Pairs Action Bias: NZDUSD Turns Extremely Bullish as EURUSD Stays Bearish – AUDUSD Emerges as Key Bullish Pair to Watch 
Major Crypto Action Bias: ETHUSD Turns Bullish – Only Bullish Pair to Watch 
Major Pair Action Bias: USDCHF Turns Bullish as EURUSD Stays Bearish – Key Pairs to Watch 
AUDJPY Surges on Aussie Strength: Buy Dips Toward 117/118 as Bullish Momentum Accelerates 
FxWirePro :USD/JPY drifts above 162 as range trading persists 
NZDJPY Bullish Above 95: Buy Dips Toward 97 as Kiwi Strength Holds Firm 
FxWirePro: AUD/USD bulls struggles as upside momentum fades 
AUDJPY Pulls Back on Profit Booking: Buy Dips Toward 117/118 
ETHUSD Breaks Above $1900 as Bulls Eye $2300 and Beyond 
FxWirePro: USD/CNY gains some upside momentum but bias still bearish 
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FxWirePro- EURGBP Trade Idea
EURGBP surged slightly as Euro recovers. Intraday bias remains bearish as long as resistance 0.8340 holds. It hits a low of 0.8270 at the time of writing and is currently trading around 0.83104.
Euro lost its shine amid France political crisis. It is facing a serious political crisis with Prime Minister Michel Barnier's minority government at risk of collapsing due to a no-confidence vote.
His proposed €60 billion budget to reduce the deficit is encountering strong opposition from both right and left-wing parties. To bypass this, Barnier used a controversial method to pass a social security budget, prompting more opposition challenges. The political turmoil has raised concerns about France's financial stability, affecting its bond yields and raising questions about future governance.
Technical Analysis
The pair is currently trading below the 34- and 55-EMA on the 4-hour chart.
Bearish Trend Confirmation: If the price stays below 0.82600, it will confirm an intraday bearish trend. A drop to 0.8235 or 0.8200 is likely.
Near-Term Resistance: Current resistance is around 0.8320. If it breaks above, we could see movement toward 0.8340/0.8360/0.8380/0.845/0.8500. The bearish outlook would be invalidated only if the price goes above 0.8500.
Indicator Analysis (4-hour chart)
- CCI (50): Bearish
- Average Directional Movement Index: Bearish
Trading Recommendation
It may be wise to sell on rallies around 0.8340, with a stop loss set at 0.8380 and a target price of 0.8200.
