Price action is volatile but contained in the three major currency pairs as a markets digest geopolitical risks:
EURUSD: The EURUSD is trading between support near 1.05158 and resistance near 1.0610. The price is trading near 1.0585 as buyers and sellers panel between the extremes.
USDJPY: The USDJPY is remaining below the 200-hour moving average at 154.386, but is respecting support near the broken 61.8% retracement of the range since the July high. That level comes in at 153.39. Moving below that level would increase the bearish bias.
GBPUSD: The GBPUSD is trading between its support between 1.2596 – 1.26137, and resistance up to 1.2686. The current price Is between those levels at 1.2648. Traders will be looking for the next shove outside of the aforementioned range.
This article was written by Greg Michalowski at www.forexlive.com.
