Major USD Pairs Discussion | Daily Market Breakdown

GBPUSD- On the 4hr, price has formed a rising wedge. A converging chart pattern that shows buyers are beginning to lose their strengths when approaching a significant resistance zone, where sellers can possibly step in and take over.

To trade a rising Wedge pattern as seen on GBPUSD, wait for price to break below the lower boundaries of the wedge, and enter on the retest with SL above the last high before the break of the channel.

The TP target is usually the Low that formed the origin of the Rising Wedge as indicated on the chart.

GU-On 1hr, There's a newly formed bearish Channel. I'll watch if price will follow through this channel to invalidate the rising wedge on 4hr, but if the bearish channel gets invalidated and price breaks above the upper channels invalidating the resistance level at 1.3545 then the buys will continue.

To sell GU, I'll wait on 15mins for price to flip the 15mins support level at 1.3535, making it my sell entry, with SL at 1.3555 and TP at 1.3496.

EURUSD- Daily Update
A break out of the range between 1.1584 as resistance and 1.1573 as support, will determine the next strong move on EURUSD.

EU-A break above the resistance and I'll buy on retest with SL at 1.1565 and TP at 1.1630

The TP target is usually the Low that formed the origin of the Rising Wedge as indicated on the chart.

GBPUSD-Daily Update
Price is still confined to a 1hr bullish trend channel, expecting it to invalidate it and trade down to the next key level at 1.3550 for a rebound

GU- Trade Setup
Expecting a consolidation for sell continuations at 1.3620 price level, with SL at 1.3640 and TP at 1.3560

EU- A break below the support at the 1.1573, and I'll sell on retest with SL at 1.1592, and TP at 1.1530.

EURUSD- Daily Update
Bias: Bullish
Technical outlook: Bullish ascending Channel

Price is still confined to a 4hr Bullish channel although it is currently in bullish consolidation phase.
Price sold yesterday from 1.1680, down to 1.1646 a key level that acts as support. This level confluences with the lower boundaries of the trendline and has the potential to cause price to rally back to 1.1680 possibly breaking above it if need be.

EU-A break above the 1.1680 price level and I'll look to join the buy continuations with first TP at 1.1711 and 2nd TP at 1.1780

EU- A break below 1.1646 is low probability for me, but if it happens then I'll join the sells down to 1.1580 for a rebound and price to continue the buys.

AUDUSD - Price has created a clear bullish sequence to confirm it's uptrend. A good pullback will present good opportunities to join the buys.

AUDUSD- Daily Review
Bias: Bullish
Technical Outlook: Narrow Ascending Channel.
For the past weeks, AUDUSD has been trading within a narrow and parallel bullish channel heading towards the 0.72600 Major resistance price level.

AUDUSD- On 4hrs, the bullish sequence becomes clearer and show price is not in anytime changing the structure or the bias.

EURUSD- Daily Update
Bias: Bullish
Technical outlook: Bullish ascending Channel

Price is still confined to a 4hr Bullish channel although it is currently in bullish consolidation phase.
Price sold yesterday from 1.1680, down to 1.1646 a key level that acts as support. This level confluences with the lower boundaries of the trendline and has the potential to cause price to rally back to 1.1680 possibly breaking above it if need be.

EURUSD- Monday Outlook (31st Aug 2026)
EU started the week with buys from the support level at 1.1578 price level currently rallying towards the resistance level it sold from last week at 1.1646 price level.