GBPUSD falls from the peak
The pound fell further against the Dollar(greenback) as the tariff war rumbled on. On the chart, the pair has dropped over 300 pips since hitting its peak of just under the 1.3200 level. The bearish recovery is starting to take shape as prices break the 1.2900 level. A downward continuation could continue in the medium term if 1.2850 is broken. An upswing will first need a 1.2930 break to pull back some recent losses.
USDCHF remains subdued
The Swiss franc gained some momentum after the collapse in price action, seeing bears looking for another level. After hitting support at 0.8550, the US Dollar(greenback) has shown further strength, which indicates sentiment has shifted to the downside. The multi-month low below 0.8480 is the next target. 0.8600 is the first resistance zone to ease the selling pressure.
EURJPY hitting lower lows
The Japanese yen failed to maintain the pressure on the euro. However, the bounce back halted prices at 161.00, with long higher shadows suggesting a rejection. 159.50 is now crucial support to keep the rebound intact, as a lack of follow-up buying could threaten a move to the bottom of the recent bearish candle at 158.00. Buyers could regain control of the direction if they manage to push back above the fresh resistance at 160.80.