The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: No change. We are bearish and would look to fade upticks in range towards 1.1430. Monthly and weekly candles point to further downside. Our initial targets are towards the 1.1000/1.1020 area.
USD/JPY: We are bullish and expect support in the 119.00 area to provide buying interest. Our upside targets are towards the 123.35 area initially.
GBP/USD: The break below support in the 1.5330 has prompted us to turn bearish in the short term as we look for a squeeze lower towards the 1.5170 range lows. From there we would look for signs of a base and return towards the 1.5820 range highs.
USD/CAD: Tuesday’s bullish engulfing candle has stemmed the downside squeeze sooner than we had expected. Nonetheless, it encouraged our overall bullish view. Our upside targets are near 1.3465.
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