Forex Market Analysis: Sterling strengthens while euro and rupee remain technically weak

EUR/USD closed at 1.1232, just above the 1.1227 pivot, after moving higher by 0.15% on the day. The pair is still below its 20-day average at 1.1261 and its 50-day average at 1.1457, while the 20-day change remains negative at 1.88%.

The RSI, a momentum gauge, is at 37.1, showing weak momentum without being in the traditionally oversold area below 30. Initial support is at the pivot S1 level of 1.1195, followed by S2 at 1.1175. On the upside, 1.1248 is the first pivot resistance, with the 20-day average at 1.1261 adding a nearby technical barrier.

The 14-day ATR, a measure of typical daily movement, is 0.0069. This indicates that intraday swings can be meaningful relative to the nearby pivot levels, so breaks should be assessed alongside daily-range expansion rather than in isolation.

GBP/USD closed at 1.3376, up 0.50% for the day and 0.89% over five days. Price is above the 1.3252 20-day average and the 1.3296 20-day exponential average, but remains below the 50-day average at 1.3413. This creates a firmer short-term structure within a mixed broader trend.

The pair is positioned just above the 1.3375 pivot R1 level. A sustained hold above the 1.3342 pivot would keep the recent advance technically supported, while 1.3276 is the next lower pivot support. Resistance is concentrated near the 1.3408 20-day high and the 1.3441 pivot R2 level.

RSI is 56.5, indicating moderately positive momentum rather than an extreme reading. The ATR is 0.0078, the highest among the four instruments, so the distance between nearby levels may be covered quickly during active sessions.

USD/JPY closed at 158.23, down 0.19% on the day and almost unchanged over five days. The pair remains above the 20-day average at 158.03 and the 50-day average at 157.68, which supports the medium-term structure, but the close is below the 158.33 pivot.

Immediate support is at 158.07, followed by the pivot S2 level at 157.62. On the upside, the pivot at 158.33 is the first reference, followed by R1 at 158.78. The 20-day high at 159.00 remains a wider range ceiling.

RSI is 53.6, close to neutral, while the ATR is 0.72. The combination of balanced momentum and a relatively broad daily movement measure argues for waiting for clearer separation from the pivot and moving averages.

USD/INR closed at 94.77, down 0.24% on the day, 0.54% over five days and 0.96% over 20 days. Price is below the 20-day average at 95.84, the 20-day exponential average at 95.57 and the 50-day average at 95.54, keeping the broader technical structure weak.

The close is below the 94.89 pivot, with initial support at 94.74 and the pivot S2 level at 94.48. A recovery above 94.89 would bring 95.14 into view, while 95.29 is the next higher pivot reference. The 20-day low at 94.15 remains a wider downside range level.

RSI is 38.7, indicating weak momentum but not a traditional oversold reading. ATR is 0.68, so daily fluctuations remain sizeable relative to the nearby support and resistance levels.