The GBPUSD was corrected higher yesterday, topped at 1.5129 and closed at 1.5095. This fact should continue the bullish correction scenario targeting 1.5200/50 area after failed to stay consistently below 1.5000 psychological level. Break above 1.5250 area should be see an potential bearish failure and a beginning of a new bullish phase. However note that as long as price move inside the bearish channel the main bearish scenario should remain intact and the current bullish momentum should only be seen as a corrective move. Another movement below 1.5000 area should be seen as serious threat to the bullish correction scenario re-testing 1.4779 area.

The USDJPY continued its bearish momentum yesterday, bottomed at 88.31 and closed at 88.45. This fact should trigger further bearish scenario targeting 87.35 area. Immediate resistance at 89.00 area. Break above that area could be seen as potential false breakdown scenario which could trigger significant bullish momentum testing 89.50 even 90.50 area.

The USDCHF had a significant bearish momentum yesterday, bottomed at 1.0647 and closed at 1.0677. The triple top formation around 1.0888 area able to trigger significant bearish correction so far even possible bearish reversal scenario testing the lower line of the major bullish channel. The bias is bearish in nearest term targeting 1.0507 area but we need a consistent move below 1.0640 to continue the bearish scenario. Immediate resistance at 1.0750 – 1.0800 area.