Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.1570 FOR 1.1376, REVISED STOP AT 1.1669
USD/JPY: SHORT AT 117.45 FOR REVISED 116.83; REVISED STOP 117.81
GBP/USD: SELL AT 1.5185 FOR INITIAL 1.5034 OBJECTIVE; STOP AT 1.5240
USD/CHF: LOOK TO SELL RALLY TOWARDS .9134
AUD/USD: BUY AT .8155 FOR .8378, STOP AT .8063
USD/CAD: LOOK TO BUY
Crosses
EUR/JPY: POSSIBLY SELL
EUR/GBP: SHORT AT .7658 FOR .7553; STOP AT .7708
EUR/CHF: SHORT AT 1.0165 FOR .9322; STOP AT 1.0305
EUR/CAD: SELL AT 1.3885 FOR 1.3650 STOP AT 1.3970
GBP/JPY: SELL AT 178.85 FOR 174.70 STOP AT 179.65
NZD/USD: LONG AT .7785 FOR .7947; REVISE STOP AT .7720
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GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
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