Major USD Pairs Discussion | Daily Market Breakdown

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.

On 4hrs, 50% of the bearish imbalance created last week Friday has been filled, yet price is still pushing aggressively.

On 1hr, price is still confined to the Bearish descending channel, and It's important not get carried away with the Monday bullish move, as price has the tendency to react at the supply zone from the 1.1646 resistance level for an aggressive sell.

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

GBPUSD- Monday Outlook (31st August 2026)
GU started the week with buys as well, but not carrying much moment like EU.
With today's daily closing bullish at the 1.3520 Price level, price will be forming a daily low, and confirming the level as a Support.

GU- Still on the daily, there's room for price to break below the 1.3520 price level, and decline down to 1.3450 to complete the 3rd for the bullish channel it created this month.

GU- on the 4hr, price is still confined to the 4hr channel it created last week. Th current 4hr rally retreated at the trend resistance showing that bears are still very much present despite the buys we saw earlier.

GU- On 1hr, the pattern is clearer and it's evidently showing that there's possibility GU will continue with sell this week if it breaks below 1.3520 price level.

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-Monday Outlook (31st August 2026)

AU closed with a bearish engulf last week which shows the bears overpowered buyers at that resistance level. Despite the sells, price did not invalidate the long-term trend channel but rather resumed buys from the trend support region today.

AU- On the 4hr, there's a potential Head and Shoulder pattern formation to confirm possible sell continuation. But the bone of contention with the sells is the Bullish trend channel that price is still trading within and that reduces the probability of the sells despite being at a key resistance level.

AU-Still on the 4hr, I'll be watching out price reaction at the 0.7180 resistance price level, which aligns with a weekly level.

AU-Secondly on the 4hr, if price trades above the first resistance level at 0.7180, then it will possibly react at the 0.7189 resistance level which is last week's Thursday high.

AU- I have set my sell limit order at the 0.7189 resistance level with my SL above 0.7208.

AU- On the 1hr, price invalidated the previous 1hr channel which was bullish and I'm looking forward to seeing it create a bearish channel with the next lower high formed possibly at 0.7180, or 0.7189 resistance price levels

AU- Still on 1hr, Price is currently reacting to the flip zone at 0.7170 price level. possibility of price also dropping sells from this level is positive, but I'm not interested from sells from that level except price invalidates the bullish trend support on 4hr.

AU- Today's Monday range price action can become a supply zone tomorrow inspiring a drop below 0.7155 down to 0.7130. this bearish move could invalidate the long-term bullish channel, but we'll just watch and see how tomorrow goes.

EU- I'll be waiting on 15mins for a bearish trade setup to form. My entry will be after the formation of a 15mins bullish reversal chart pattern at the supply zone present at the 1.1646 resistance level and my SL above at 1.1665.

Just observe price reaction at that supply

Yeah, that's what I'm watching out for. A good bearish confirmation and we strike it good.