GBP/USD, USD/JPY, USD/CHF, AUD/USD: Critical weekly setups identified

Major currency pairs are approaching pivotal technical levels that could define trading direction for the coming week. GBP/USD has surged 0.8% to 1.2680, breaking above the descending trendline resistance at 1.2650, with momentum indicators suggesting further upside toward 1.2750. USD/JPY continues its downtrend, falling 1.2% to 148.50 as it tests crucial support at the 50-week moving average. USD/CHF has declined 0.6% to 0.8970, breaking below the psychological 0.9000 level amid Swiss franc strength. AUD/USD jumped 0.9% to 0.6540, benefiting from improved risk sentiment and commodity price gains, with immediate resistance at 0.6580. Weekly RSI readings show oversold conditions for USD pairs, suggesting potential bounce opportunities. Traders should watch for confirmation of breakouts with increased volume, particularly around the 1.2700 level for GBP/USD and 148.00 support for USD/JPY.