Forex Trading ideas for USD/CHF, GBP/USD and AUD/USD

R: 0.9000-20 / 0.9080-9100 / 0.9145 S: 0.8900 / 0.8860 / 0.8800

^

Limit Buy Order: Buy USD 10K at 0.8900, SL 0.8835, TP 0.9140 Buy USD 10K at 0.8870, SL 0.8825, TP 0.9180

GBP-USD @ 1.5657/60...Bearish

R: 1.5700 / 1.5750 / 1.5800 S: 1.5600 / 1.5550 / 1.5500

Cable failed to see a strong rise past 1.5700 once again and has come off from its high of 1.5702. The overall bearish outlook remains intact and we might see a sharp fall to 1.5500-5300 in the coming sessions/days. On the upside 1.5750 and 1.5800 are the significant Resistance levels seen above 1.5700. Only a strong rise past 1.5800 will ease the downside pressure. But an immediate rise past 1.5750-5800 Resistance region is not looking likely and as such we will be looking to sell on rallies to 1.5750-5800.

Limit Sell Order: Sell GBP 10K at 1.5750, SL 1.5835, TP 1.5530 Sell GBP 10K at 1.5800, SL 1.5855, TP 1.5350

AUD-USD @ 0.9850/53...Ranged with bearish bias

R: 0.9900 / 1.000 S: 0.9800 / 0.9700

Aussie is not gaining much upside momentum to extend its upmove above 0.9900. Our view remains the same. We might see some sideways consolidation between 0.9650 on the downside and 1.000 on the upside for some time. With this sideways consolidation our bias would be bearish and we would expect the Resistance at 1.000 to hold. As mentioned in our Morning comments, while below 1.000, we see a threat of a fall to 0.9250 in the coming days.

Limit Sell Order: Sell AUD 10K at 0.9970, SL 1.0045, TP 0.9720 Sell AUD 10K at 1.0000, SL 1.0055, TP 0.9720

Happy Trading!