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USDCHF may be forming a cycle top at 0.9417 on 4-hour chart. Key support is now at 0.9325, a breakdown below this level will indicate that the rise from 0.9239 has completed, and the longer term downtrend from 0.9971 (Jul 24 high) has resumed, then further decline towards 0.9000 could be seen. On the other side, as long as 0.9325 support holds, the pair remains in short term uptrend from 0.9239, one more rise to 0.9500 area is still possible.



Forex Signals

USDCHF continues its upward movement from 0.9239, and the rise extends to as high as 0.9417. Further rise is still possible, and next target would be at 0.9500 area. However, the rise is treated as consolidation of the downtrend from 0.9971 (Jul 24 high), as long as 0.9500 level holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible, only break above 0.9500 could signal completion of the downtrend.



Daily Forex Forecast

GBPUSD continues its sideways movement in a range between 1.6163 and 1.6309. Initial support is at 1.6163, as long as this level holds, the price action in the range is treated as consolidation of the uptrend from 1.5490 (Aug 2 low), and another rise towards 1.6500 is still possible. However, a breakdown below 1.6163 support will indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 1.6050 area to complete the consolidation could be seen.



Forex Signals

GBPUSD moves sideways in a range between 1.6163 and 1.6309. The price action in the range is likely consolidation of the uptrend from 1.5490 (Aug 2 low). Support is at 1.6163, as long as this level holds, another rise towards 1.6500 could be expected after consolidation, and a break above 1.6309 could signal resumption of the uptrend. On the downside, a breakdown below 1.6163 will indicate that lengthier consolidation of the uptrend is underway, then the pair will find support around 1.6050 area.



Forex Signals