The following are the intraday outlooks for EUR/USD, EUR/JPY, and GBP/USD as provided by the technical strategy team at SEB Group.
EUR/USD: Targeting the Mar low again. Last week was a solid loser and Fri's move contributed to this. More time spent under 1.0613 would downshift the target cursor to the Mar low of 1.0475 (and the lowest session close some 50pips above this level). The first key short-term resistance is located at 1.0713.
EUR/JPY: Below 127.13/92 would add weight. Losses last week were genuine and the low session close indicated prevailing supply hitting the market. Also under 127.13/92 would lower the bar to a short-term 161.8% Fibo projection ref at 126.00 and a 'Triangle' target as low as 124.35. First more important short-term resistance is located at 128.40.
GBP/USD: The Mar low is in the near mirror. Following violation of the Mar low (1.4635) and the low weekly close last week, focus has shifted to a short-term 'Equality point' at 1.4565 and an alternative 127.2% Fibo extension ref which currently connects to a tentative Jan-Mar descending line of support, now at 1.4450. Key resistance in this timeframe perspective is located in the 1.4740/80-area.
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